July 24 2014

In the trading room today: Is the NZD Really Vulnerable to a “Significant Fall”? Following the Reserve Bank of New Zealand interest rate announcement and warning of the possibility for a “significant fall” in the NZD, we take a close look at the Kiwi dollar and examine some of its vulnerabilities that could trigger further losses for the currency, we analyze the sell-off in the NZD/USD currency pair, we note the test of a support area for the GBP vs USD, we keep an eye on the weakness in the EUR/USD pair, we highlight the market’s reaction to the U.K. Retail Sales, the Euro-zone Composite PMI, and the U.S. Jobless Claims, we discuss new forecasts from ASB Bank and Westpac Banking Corp., and prepare for the trading session ahead.