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NZD/USD contained ahead of 0.6650

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - NZD/USD made a recovery attempt during the European session, but remained capped by the 0.6710 area and turned back lower, posting a marginal new low for the day in recent dealings.

    Risk aversion weighs on commodity currencies

    Risk-off sentiment is the theme in financial markets, with stocks and commodities under broad pressure following Chinese trade data which showed imports fell sharply in September and raised concerns over the world’s second economy.

    A negative opening in Wall Street added pressure to NZD/USD that made a marginal new low for the day at 0.6654 in recent dealings. At time of writing, the pair is trading at 0.6675, down 0.56% on the day. The kiwi is retreating from a 3-month peak scored yesterday at 0.6739, following a 10-day winning streak.
    For more information, read our latest forex news.

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