Like yesterday, coms appear up this morning. I was pleased to see an overnight trade placed long on the AUDUSD pair. Think today’s news will lead to a reversal or more AUD, CAD, NZD strength?
I’m favoring NZD for now, although AUD still seems to be enjoying support from relatively strong data and a pickup in Chinese manufacturing figures, as analysts have upgraded their outlook for the New Zealand economy. Besides, the next RBNZ statement is drawing near and traders might be positioning ahead of another rate hike.