8 Nov 2013
Flash: Every chance currency excitement extends short term - BNZ
FXstreet.com (Barcelona) - Looking ahead, high volatility in the FX market should continue in the short-term with, a heavy schedule of event risk set to buffet markets, says the Bank of New Zealand in a note to clients.
Key Quotes
"During today’s session, Chinese trade numbers (due sometime this afternoon) will be closely watched to see if last month’s weakness in exports continues (1.7%y/y exports and 7.4%y/y imports expected). Signs of softness would weigh on the NZD."
"There’s also Chinese CPI, industrial production, and retail sales figures to monitor over the weekend, US payrolls tonight, and a string of Fed officials lining up to speak (including Bernanke at the IMF)."
"Short-term support for the NZD/USD should kick in around 0.8305, with deeper support eyed around 0.8215. Initial resistance will be encountered on bounces to 0.8430."
Key Quotes
"During today’s session, Chinese trade numbers (due sometime this afternoon) will be closely watched to see if last month’s weakness in exports continues (1.7%y/y exports and 7.4%y/y imports expected). Signs of softness would weigh on the NZD."
"There’s also Chinese CPI, industrial production, and retail sales figures to monitor over the weekend, US payrolls tonight, and a string of Fed officials lining up to speak (including Bernanke at the IMF)."
"Short-term support for the NZD/USD should kick in around 0.8305, with deeper support eyed around 0.8215. Initial resistance will be encountered on bounces to 0.8430."