Equities are off, the dollar's ascent has been stopped in its stride and sentiment has turned sour after the EU retaliated to the the Trump tariffs with a raft of levies of its own.
Squawk / 17 July 2016 at 22:56 GMT
Managing Director / Technical Research Limited
New Zealand
NZDUSD slumped from 0.7150 to 0.7080 this morning after the June quarter CPI number came in 0.4% and the annual rate the same.

As shown in the chart below, the annual rate has risen slightly but is still a long was from the Reserve Bank of New Zealand’s 2% target.

The RBNZ’s forecast had been for a quarterly number of 0.6%, while the market expectation was 0.4% to 0.5%.

Traders won’t have long to hear what the RBNZ thinks of the inflation outlook. On Thursday the Bank will issue a special “Economic update”. While no change to the 2.25% policy rate will be announced (that will come in the regular Monetary Policy Statement on Aug 11), the Bank is clearly unhappy with the persistent strength of NZDUSD and they will try to jawbone it down on Thursday. The cross has weakened in the last couple of days in anticipation. However, things aren’t as clear cut as they seem. See here
Patto Patto
What's your call on NZDAUD now Max ?
Max McKegg Max McKegg
My forecast of a Major Reversal in the AUDNZD cross rate is looking promising so far. My Updated Analysis appears below. Click to enlarge.
OrofitAccumulator OrofitAccumulator
I like your analysis on this cross Max


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