NZD/USD: NZ CPI data could shift the dial – ANZ

FXStreet Insights Team FXStreet

NZD/USD ended last week lower. The focus now shifts to NZ Consumer Price Index (CPI) data due out at 21:45 GMT, economists at ANZ Bank report.

NZD has a few legs of support

“The NZD has a few legs of support – RBNZ leadership, high-interest rates, and a surprisingly resilient economy. The only trouble is, the USD has most of that too. That leaves us much more neutral on the Kiwi outlook in a broad sense. But NZ CPI data tomorrow could shift the dial, especially if it heralds a change in monetary policy expectations.”

“Support 0.5470/0.5510 Resistance 0.5820/0.6000/0.6160”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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