NZD/USD grinds higher even as risk reversal prints three-day uptrend

Anil Panchal FXStreet

The options market turns retains bullish bias on the NZD/USD for the third consecutive day heading into Thursday’s European session, per the latest weekly data from Reuters.

That said, one-month risk reversal (RR) of NZD/USD, a gauge of calls to puts, prints +0.013 levels at the latest, per data source Reuters.

It’s worth noting that the NZD/USD prices do track the bullish signals flashed by options markets but struggle for fresh clues after the previous day’s heavy run-up, like all other G10 currency pairs. Hence, today’s Fedspeak and US PPI will be important for the pair traders amid a lack of major data/events.

The Kiwi pair seesaws around 0.6855 after refreshing the highest levels last seen on December 24.

Read: NZD/USD hits wall of resistance near 0.6860 on sluggish yields, Fedspeak eyed

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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