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Milk this: NZD/JPY below 80 as dairy prices fall again

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The New Zealand dollar has received a double whammy of bad news in this first trading week of 2016. First, it was the disappointing manufacturing data out of China, New Zealand’s largest trading partner, on Monday that weighed heavily on commodity currencies and global stock markets. Today it was Fonterra’s turn to provide some bad news at its closely-watched bi-monthly auction. The world's biggest dairy exporter’s GlobalDairyTrade (GDT) index fell 1.6%, giving back most of the 1.9% gain from

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