NZD opens higher after strong election win by ruling Nationals

The focus of the last 2 weeks has been firmly on the GBP but now the market should return to some semblance of normality and the other currencies get a look in.

The first mover of the week is the NZD, which has traded to .8160 against the USD after a strong showing from the ruling Nationals party in the general election. There do not seem to have been a large number of stops in the interbank market at least, so it looks as if positioning was reasonably light heading into the risk event.

I have no strong view but it does look as if AUD/NZD is getting closer to some interesting technical levels and might be worth a buy-dip consideration. I’ll have a look at the levels a little later.

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