Brief comments on the New Zealand dollar from a (London morning) July 1 note from the bank.
Time to buy the NZD:
- Ahead of the resumption of the US-China trade talks, China has little incentive to weaken the RMB. NZD trades best when there is RMB stability or strength.
- Hence, EURNZD has a good chance of breaking below its 200DMA.
---
A look at the daily EUR/NZD:
