NZ CPI: Market expecting -0.2% in December

It’s been a quiet night in the FX markets with the US closed for a public holiday.

The first event on today’s calendar will be the NZ CPI number for December, with most of the big banks expecting a number close to -0.2% for December.

Most interest in the spot market will be on the AUD/NZD cross. If it breaks back above 1.0730 it’s likely to trigger some heavy-ish trailing stops and certainly stall recent momentum.

Good luck today.

  1. Morning Sean. Got any medium term views on kiwi ? I got short nzdusd @ 0.8350 and looking for a test of the lows at 0.8120 or below. Considering the selling interest from the bigger guys on this pair i think i’m on the right path although the CPI figures could mess all up. And of course the damn pair is notoriously difficult to trade…

  2. In a word Adrian, NO. I’d also prefer to be short NZD/USD but but but… as you say, v difficult to trade.
    Stay nimble, book 100 pip profits if/when you can and hopefully the big light will come on sometime soon showing us all the way 🙂

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