30 Oct 2013
NZD/USD hit by Moody's headline
FXstreet.com (Barcelona) - NZD/USD is being sold-off along Asian hours, following a headline by Moody’s Vice President hess, who said there had been discussions to cut NZ’s AAA rating.
According to Moody's: "NZ net international investment gap is the biggest for the AAAs, and NZ current account deficit makes it vulnerable." NZD/USD saw its gently recovery rotate abruptly lower from 0.8260 down to 0.8210, new 1-month low.
According to Jim Langlands, Founder at FXCharts: "The Kiwi continues to trade in heavy fashion. Below 0.8230, look for further declines towards the 200 DMA at 0.8181", adding that "the RBNZ will release its I/R decision Thursday, 2 hours after the Fed so will be pretty hectic. Until then, I think sitting on hands is the best plan."
According to Moody's: "NZ net international investment gap is the biggest for the AAAs, and NZ current account deficit makes it vulnerable." NZD/USD saw its gently recovery rotate abruptly lower from 0.8260 down to 0.8210, new 1-month low.
According to Jim Langlands, Founder at FXCharts: "The Kiwi continues to trade in heavy fashion. Below 0.8230, look for further declines towards the 200 DMA at 0.8181", adding that "the RBNZ will release its I/R decision Thursday, 2 hours after the Fed so will be pretty hectic. Until then, I think sitting on hands is the best plan."