Forex Investment and Currency Trading

A number of short term drivers that have increased the NZD bearishness. Last week’s GDP data confirmed that the economy shrank in Q1. And this was not a one off. There was widespread weakness across the primary and manufacturing sectors and parts of the services sector, as the initial effects of the drought, the housing [...]

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The NZ economy grew by an estimated 3% in the fiscal year ended March quarter 2008 (actual data reported June 27) but finished the fiscal year with a limp.
While the RBNZ left its key OCR at 8.25% in June, the accompanying decision and monetary policy statement (MPS) was much more dovish. As in the recent [...]

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NZD/USD – Must pierce resistance at 0.8095 in order to bring the key double top at 0.8210 back in to view.
NZD/USD reached a price target at 0.8050 this week after the formation of a double bottom at 0.7879. Although recent price action has been defined by a neutral 0.7879-0.8210 trading range, a close above initial resistance [...]

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