22 Dec 2014
NZD/USD trades mixed in thin markets ahead of key data
FXStreet (Guatemala) - NZD/USD is trading at 0.7734, down -0.15% on the day, having posted a daily high at 0.7773 and low at 0.7714.
NZD has been a strong performer among the commodity currencies, and just recently, taken from the latest CFTC Commitment of Traders Report, net NZD shorts went from small (-2.2k last week) to almost non-existent (just 639 contacts). In general, the economy is solid and the bird belongs to one of few Central Banks who will be considering rate rises in 2015.
Meanwhile, we are winding down for the Christmas holidays in thinner markets. However, those of us who are at our desks await the trade balance from New Zealand today. Further on, there are a number of US data releases that will take the spotlight this week, kicking off with Durable Goods and US GDP next while the US swallows a poor existing home sales already released today at -6.1% vs 1.4% previous and 0.8% expected.
NZD has been a strong performer among the commodity currencies, and just recently, taken from the latest CFTC Commitment of Traders Report, net NZD shorts went from small (-2.2k last week) to almost non-existent (just 639 contacts). In general, the economy is solid and the bird belongs to one of few Central Banks who will be considering rate rises in 2015.
Meanwhile, we are winding down for the Christmas holidays in thinner markets. However, those of us who are at our desks await the trade balance from New Zealand today. Further on, there are a number of US data releases that will take the spotlight this week, kicking off with Durable Goods and US GDP next while the US swallows a poor existing home sales already released today at -6.1% vs 1.4% previous and 0.8% expected.