Flows and Orders

Chinese-NZD connection

There are some very strong ties between China and New Zealand, particularly in the agricultural sector, and that’s why the market is listening with interest to news that the┬áChinese banking behemoth, ICBC, is applying for a New Zealand banking licence. They already have an Australian banking licence and nobody is yet too sure why they are seeking one in Kiwi-land.

Any link with China is beneficial and this news has given the NZD a boost over the last few hours. Watch also for option-related stops in NZD/USD above .8400 and .8410.

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