Analysts at ANZ claim that New Zealand’s dollar is under pressure due to weak economic data released this week – forth quarter CPI and the retail sales weren’t very encouraging. In addition, there’s a demand-side pressure in the economy, note the specialists. The market begins pushing the expectations of Reserve Bank of New-Zealand’s rate hike further away.

ANZ strategists also draw investors’ attention to the fact that that in 19 out of the past 21 years the NZD/USD dipped in February getting below the Christmas Eve opening level. If this year proves to be no exception, then there is a good chance of a look towards 0.7450.



Chart. H4 NZD/USD

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