09/25/2015 - Are NZD/USD bulls coming to the rescue?

* Are NZD/USD bulls coming to the rescue?
* Market Movers: Weekly Technical Outlook
* Look Ahead: Stocks
* Look Ahead: Commodities
* Global Data Highlights

The diverging monetary policy objectives of New Zealand and the US have made NZD/USD an easy target recently, with the pair hovering around its lowest level in over six years. The kiwi's once strong fundamental supports have almost completely eroded alongside NZ's monetary policy outlook and rising fears about the health of the global economy. At the same time, the US dollar has benefited from the prospect of monetary policy tightening from the Fed and increased safe haven flows amidst a risk-off tone in the market.

Deteriorating domestic economic conditions, falling commodity prices and increased concern about the health of China's all-important economy swamped the NZ dollar in late 2014 and for most of this year. Dairy prices were falling at auction consistently and domestic economic data took a turn for the worst, leading the RBNZ to aggressively ease monetary policy, cutting the OCR at three consecutive meetings by a total of 75bps..... Full text »

Facebook | Twitter | YouTube

from FOREX.com's Weekly Strategy http://ift.tt/1d8RLLQ