- End-of-month flows are dominant in the forex markets this Friday and the NZD outperforms.
- The NZD may also be feeling headwinds for bank calls earlier in the week for a less moderate RBNZ going forward.
The NZD / USD has returned to trading just below 0.7200 in recent trading, having hit day highs above 0.7220 before the US cash open Further deterioration in the broader market appetite for cash is likely. risk (US stocks have sunk anyway) is the cause of the recent drop in the risk-sensitive NZD, although the pair is still trading up about 0.3% on the day and bullish on the market. week despite the appreciation of the US dollar. End-of-month flows appear to be distorting price action on the last trading day of the week.
Technical levels
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