February 11, 2011
Hah! It looks like the Kiwi also caught the risk aversion flu! Apparently, euro zone debt problems were re-ignited yesterday, which sent the high-yielders scrambling for cover. From its open price of .7721, NZD/USD fell almost 100 pips to close the day very weak at .7626.
New Zealand's economic calendar today's presents absolutely nothing to worry about again, so look at the results of the upcoming reports from the U.S. (Trade Balance, Preliminary University of Michigan consumer sentiment survey) for direction. The reports will be key in determining whether NZD/USD will be able to hold above the .7600 this week.
Last edited by PipDiddy; 02-10-2011 at 08:34 PM.
"The only cable I watch is the pound baby."