Very early days to map potential moves of NZD - this is my feel.
Likely to see a ranging trending grind up to 0.75 area ( white box ) until further development with news and data.
RBNZ expected to have one more rate cut by year end and Fed outlook for rising rates decreasing - see where the market will take us. No matter what Wheeler says - I am bullish on the Kiwi unless a 50 basis point rate cut is dropped by RBNZ or Fed rises rates by year end - against market expectations as it develops
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kiwiwalnut
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so far so good
kiwiwalnut
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slow grind up to 0.74 area and .786 fib area likely. NFP ~150k while out of context is a respectable figure, however with backdrop of Fed positioning and rates outlook - will send out dovish sentiments to the market. Sept rate increase not completely out of the picture but less likely now. That also means more downward volatility in this pair if Fed does signal a rate increase.