17 Jun 2015
NZD/USD awaits FOMC statement
FXStreet (Mumbai) - The NZD/USD pair is trading around 0.6980 levels in Asia as investors await the FOMC statement, which is likely to confirm the growing policy divergence between the Fed and RBNZ.
NZD losses capped by upbeat data
The losses in the pair were restricted at 0.6970 after the official data in New Zealand showed the current account to GDP ratio in the first quarter came-in at -3.6%, bettering the estimate of -3.8%. However, the upside has been capped by increased possibility of Fed indicating a first rate hike in 2015.
Meanwhile, the weakness in the AUD amid falling iron ore prices is also dragging down the Kiwi today. Ahead in the day, the pair is at the mercy of the markets’ appetite for the US dollars.
NZD/USD Technical Levels
A break below the immediate support at 0.6965 could drive the pair lower to 0.6941. On the flip side, a break above 0.70 could see the pair re-test 0.7053.
NZD losses capped by upbeat data
The losses in the pair were restricted at 0.6970 after the official data in New Zealand showed the current account to GDP ratio in the first quarter came-in at -3.6%, bettering the estimate of -3.8%. However, the upside has been capped by increased possibility of Fed indicating a first rate hike in 2015.
Meanwhile, the weakness in the AUD amid falling iron ore prices is also dragging down the Kiwi today. Ahead in the day, the pair is at the mercy of the markets’ appetite for the US dollars.
NZD/USD Technical Levels
A break below the immediate support at 0.6965 could drive the pair lower to 0.6941. On the flip side, a break above 0.70 could see the pair re-test 0.7053.