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26 Jan 2016
NZD/USD: a lower beta to risk-off - ANZ
FXStreet (Guatemala) - With an Expected range of 0.6440 – 0.6540 in NZD/USD, analysts at ANZ explained that the bird continued to mark time before the RBNZ.
Key Quotes:
"November NZ Crown Accounts (10am NZDT), Business NZ December PSI (10:30am) and December RBNZ credit card data at 3pm. Australia Day today, so most markets across the Tasman are closed."
"The global environment soured a little with a small ‘risk off’ developing, but again NZD demonstrated a lower beta to this dynamic. A round of minor NZ data is unlikely to impact markets with fiscal prudence, strong services and cautious card spending likely to be on display. The US has the Markit Services PMI, as well as the January Richmond Fed and consumer confidence reads."
Key Quotes:
"November NZ Crown Accounts (10am NZDT), Business NZ December PSI (10:30am) and December RBNZ credit card data at 3pm. Australia Day today, so most markets across the Tasman are closed."
"The global environment soured a little with a small ‘risk off’ developing, but again NZD demonstrated a lower beta to this dynamic. A round of minor NZ data is unlikely to impact markets with fiscal prudence, strong services and cautious card spending likely to be on display. The US has the Markit Services PMI, as well as the January Richmond Fed and consumer confidence reads."