26 Nov 2013
NZD/USD in highs near 0.8260
FXstreet.com (Edinburgh) - The kiwi dollar keeps pushing higher on Tuesday, lifting the NZD/USD to weekly highs just beyond 0.8260.
NZD/USD up on hike rumours
Once again, rumours regarding the possibility of a rate hike by the RBNZ in the upcoming months have lifted the pair to 3-day highs beyond 0.8260. “Such hawkish sentiments are no news to us as we’ve been of the view for quite some time that the RBNZ “should” be lifting the cash rate sooner rather than later but Wheeler appears determined to allow macroprudential tools to work to cool the bubbly housing sector (we stick with March and +100bp over 2014)”, observed strategists at TD Securities. Next on tap in the kiwi calendar will be the Trade Balance figures, due tonight. Prior surveys expect the trade deficit to widen to $350 million inter-month during October.
NZD/USD relevant levels
At the moment the pair is advancing 0.62% at 0.8256 with the next hurdle at 0.8276 (low Nov.21) followed by 0.8317 (MA50d) and then 0.8374 (high Nov.19). On the downside, a break below 0.8245 (high Nov.22) would open the door to 0.8231 (low Nov.14) and finally 0.8194 (low Oct.2).
NZD/USD up on hike rumours
Once again, rumours regarding the possibility of a rate hike by the RBNZ in the upcoming months have lifted the pair to 3-day highs beyond 0.8260. “Such hawkish sentiments are no news to us as we’ve been of the view for quite some time that the RBNZ “should” be lifting the cash rate sooner rather than later but Wheeler appears determined to allow macroprudential tools to work to cool the bubbly housing sector (we stick with March and +100bp over 2014)”, observed strategists at TD Securities. Next on tap in the kiwi calendar will be the Trade Balance figures, due tonight. Prior surveys expect the trade deficit to widen to $350 million inter-month during October.
NZD/USD relevant levels
At the moment the pair is advancing 0.62% at 0.8256 with the next hurdle at 0.8276 (low Nov.21) followed by 0.8317 (MA50d) and then 0.8374 (high Nov.19). On the downside, a break below 0.8245 (high Nov.22) would open the door to 0.8231 (low Nov.14) and finally 0.8194 (low Oct.2).