3 Jan 2014
AUD/NZD losses short-lived?
FXstreet.com (London) - AUD/NZD is on the bid on the short term charts and despite a disappointing number from Chinas Non Manufacturing PMI.
AUD/NZD has remained on the 1.08 handle trading within a wide range of 100 pips since trading commenced again for the New Year. The unit has ticked up from the lows made when the pair dropped form 1.0880 to 1.0846 earlier in the US session.
AUD/NZD suspicions
A research team and strategists at ANZ said “The NZD/USD’s inability to rally over the past few months, despite an extremely supportive domestic backdrop, is also notable. We are buyers of NZD/JPY on dips, but are suspicious of the move lower in AUD/NZD”.
AUD/NZD has remained on the 1.08 handle trading within a wide range of 100 pips since trading commenced again for the New Year. The unit has ticked up from the lows made when the pair dropped form 1.0880 to 1.0846 earlier in the US session.
AUD/NZD suspicions
A research team and strategists at ANZ said “The NZD/USD’s inability to rally over the past few months, despite an extremely supportive domestic backdrop, is also notable. We are buyers of NZD/JPY on dips, but are suspicious of the move lower in AUD/NZD”.