5 Nov 2014
Kiwi taking the spotlight - Westpac
FXStreet (Guatemala) - Sean Callow, analyst at Westpac Banking Corporation ABN noted the recent conditions surrounding the Kiwi.
Key Quotes:
“NZD/USD has tended higher in NY, from around 0.7735 to 0.7780, with a gyration on the dairy auction result”.
“This saw -0.3% on the overall index but NZ staple whole milk powder rose 1.6% to $2522/tonne. Then the kiwi bounced on the New Zealand Q3 employment data”.
“The 5.4% unemployment rate and 0.8% q/q gain in jobs were right on Westpac forecasts but stronger than consensus of 5.5% and 0.6%”.
“NZD/USD squeezed from 0.7770 to 0.7825, knocking AUD/NZD from 1.1235 to 1.1170”.
Key Quotes:
“NZD/USD has tended higher in NY, from around 0.7735 to 0.7780, with a gyration on the dairy auction result”.
“This saw -0.3% on the overall index but NZ staple whole milk powder rose 1.6% to $2522/tonne. Then the kiwi bounced on the New Zealand Q3 employment data”.
“The 5.4% unemployment rate and 0.8% q/q gain in jobs were right on Westpac forecasts but stronger than consensus of 5.5% and 0.6%”.
“NZD/USD squeezed from 0.7770 to 0.7825, knocking AUD/NZD from 1.1235 to 1.1170”.