The National Australia bank recommend selling NZD/USD at 0.6600
Stop at 0.68 with a target of 0.62
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Which sorta fits with the orderboard I posted earlier .... Sellers 0.6600/15
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NAB/BNZ are expecting a 25bp cut at the Reserve Bank of New Zealand meeting this week (Thursday ... Adam did a nice preview, here), but do mention there is a chance, albeit small, of a 50bp cut
- Says NZD market is short
On this ... BNZ say the can't see a catalyst to trigger a short-covering rally ... it may have happened yesterday with the comments from PM Key, though?
- NZ PM Key: NZ dollar has fallen faster than expected
