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Contained range for the NZD to USD this week.

Written by Sam Coxhead on April 5th, 2012.      0 comments

3:44 PM (NZT) This week has again seen choppy price action within a relatively contained range for this pairing. The wider .8050 - .8300 range that has been in place for a month now remains intact. The NZD has followed the equity markets for the most part. This involved seeing renewed pressure from the US dollar as a result of the FED release of their latest monetary policy meeting minutes. The US employment numbers on Friday are focus for the remainder of the week, and are relatively important for future direction. On balance the bias remains to the downside for the NZD against the US dollar in the short term.
 
The current interbank midrate is:                                                            NZDUSD .8145 
                                                                                         
The interbank range so far this week to date has been:                 NZDUSD .8122 - .8265
 

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