18 Jun 2014
NZD/USD reaches highest since early May
FXStreet (Bali) - NZD/USD is trading at its highest since early May, having posted a peak of 0.8735 as a response of a more dovish-than-expected Yellen.
The next risk event for the pair coming down the pipe is the NZ GDP release, due at 22.45 GMT, with consensus pointing at 1.2% q/q and 3.7% y/y.
According to Kenny Fisher, Analyst at Forexcrunch: "Despite some recent bumps, the New Zealand economy continues growing at a strong rate and is enjoying balanced growth and a determined central bank, which raised interest rates earlier in the month."
"Even though the US economy enjoys the same momentum, the calm environment allows for the higher yielding kiwi to emerge as a winner. A strong GDP release is expected, and this could certainly strengthen the kiwi, perhaps after some quick consolidation. So, the overall sentiment is bullish on NZD/USD towards this release", Fisher adds.
The next risk event for the pair coming down the pipe is the NZ GDP release, due at 22.45 GMT, with consensus pointing at 1.2% q/q and 3.7% y/y.
According to Kenny Fisher, Analyst at Forexcrunch: "Despite some recent bumps, the New Zealand economy continues growing at a strong rate and is enjoying balanced growth and a determined central bank, which raised interest rates earlier in the month."
"Even though the US economy enjoys the same momentum, the calm environment allows for the higher yielding kiwi to emerge as a winner. A strong GDP release is expected, and this could certainly strengthen the kiwi, perhaps after some quick consolidation. So, the overall sentiment is bullish on NZD/USD towards this release", Fisher adds.