The New Zealand dollar is still trading in a narrow range between 0.7650 and 0.7710 versus the US dollar, while it reached its highest in more than four months against the yen after New Zealand Finance Minister Bill English said business confidence is likely to “bounce back” and the nation probably doesn’t need further interest-rate cuts.
High records achieved by the Australian dollar against the U.S. dollar gave investors the impression that the Australian dollar’s gains will stop soon, increasing demand for New Zealand against the Australian dollar.
On Wednesday, The New Zealand economy won’t release any fundamentals, but the US economy will present its crud oil inventories.
The New Zealand economy to expand this period after the Chinese manufacturing sector widened due to the expected increase in Chinese demand on New Zealand products, thus raising the demand for the nation’s currency, which will help the Kiwi to incline against other majors.
Originally posted here
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