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New Zealand GDP for Q4 2017 came in weaker than estimated. NZD/USD fell about 30 pips ahead of and after the release but retraced that in the following hours. The pair's been quite resilient even amidst wobbly risk sentiment of late, mostly owing to U.S. dollar weakness. 0.72 - 0.74 range in play still. A successful break could see 200 pips in either direction.
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Canadian dollar unimpressed by a firm GDP report
Canadian monthly GDP came in much better than expected yesterday, at 0.5%. Annualized quarterly GDP came in slightly weaker than expected but still at exceptional 3.7%. That this is nothing but a historical record showed Canadian dollar, which sold off shortly after the release.
USD/CAD is currently trading right in the middle of the rising 2016 - 2017 channel and just above 1.35 big figure level. 50 DMA is the immediate resistance before a stronger one closer to 1.36. May low (1.3380) is the fi…
USD/CAD is currently trading right in the middle of the rising 2016 - 2017 channel and just above 1.35 big figure level. 50 DMA is the immediate resistance before a stronger one closer to 1.36. May low (1.3380) is the fi…