NZD/USD has been stuck in a sideways range of 0.6690-0.6860 in July, and shows no sign of a near term breakout, according to Imre Speizer, Head of NZ Market Strategy at Westpac. Key Quotes “There does remain potential for a corrective bounce to the 0.70 area, given speculator positioning (CFTC) is the third shortest on record.” “In addition, inflation, notably nontradables, is rising. Against that, NZ economic growth is slowing, and it is the latter theme which is likely to influence the NZD over the medium term.” “We this remain bearish medium term, and expect 0.6700 to break. In addition to the slowing NZ economy, a stronger USD and unattractive NZ-US yield spreads should all help to push NZD/USD lower this year.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD tumbles to over 2-week lows, 0.67 mark back on sight FX Street 5 years NZD/USD has been stuck in a sideways range of 0.6690-0.6860 in July, and shows no sign of a near term breakout, according to Imre Speizer, Head of NZ Market Strategy at Westpac. Key Quotes "There does remain potential for a corrective bounce to the 0.70 area, given speculator positioning (CFTC) is the third shortest on record." "In addition, inflation, notably nontradables, is rising. Against that, NZ economic growth is slowing, and it is the latter theme which is likely to influence the NZD over the medium term." "We this remain bearish medium term, and expect 0.6700 to break. In addition… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
