NZD: Could See Another S/T Bounce; Risk For Next Week’s Q2 CPI Data Skewed To The Downside – ANZ

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The New Zealand Dollar suffered from concerns about trade relations and dropped. What’s next?

Here is their view, courtesy of eFXdata:

ANZ discusses NZD outlook around next week’s NZ Q2 inflation data and thinks that in the very near-term, with recent data showing the market remains short, there may be more room for another bounce.

However, if the near-term data flow continues to undershoot expectations, and given risk sentiment is vulnerable, there is no reason why the NZD can’t remain under pressure even with stretched positioning.

Little support should come from Q2 CPI where our economists see risks as skewed to the downside,” ANZ argues.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.