NZD/USD gains on positive business sentiment – BBH
|NZD/USD rebounds toward 0.5800 after last week’s dip, supported by a resilient ANZ business outlook, though the RBNZ’s easing bias keeps upside limited, BBH FX analysts report.
RBNZ esing caps NZD strength
"NZD/USD is up near 0.5800 after testing a low around 0.5750 last Friday. New Zealand’s September ANZ business outlook survey was encouraging, though the RBNZ remains on course for further easing."
"Business confidence was largely unchanged in September with a net 49.6% expecting better business conditions, expected own activity rose 4 points to a five-month high at 43.4% and reported past activity (the best GDP indicator) increased 4 points to 5%. The next RBNZ meeting is on October 8 and markets price-in 30% odds of a jumbo 50bps cut to 2.50% which is a headwind for NZD."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.