Forex Flash: NZD/JPY seasonality trade target hit - ANZ
FXstreet.com (Barcelona) - Khoon Goh of ANZ's Research team notes that previously NZD trades had offered strong seasonality opportunity, especially against CAD and JPY.
Goh recalls that his recommendation for a variety of seasonality led factors. Firstly,the increase in international tourists peaks during holiday seasons, in turn increasing the demand for outright NZD purchases. Around a quarter of all visitor arrivals to New Zealand arrive around December to January. Secondly, investors channelling funds into higher yielding currencies over the quiet year end period and finally, thin liquidity conditions in NZD given many market participants are away on holiday can all support this trade.
Koh announces that NZDJPY has since hit his target of 69 whilst NZDCAD is still in play. He recommends moving stops higher from 0.8090 to 0.8220 to profit can be effectively captured and protected.
Goh recalls that his recommendation for a variety of seasonality led factors. Firstly,the increase in international tourists peaks during holiday seasons, in turn increasing the demand for outright NZD purchases. Around a quarter of all visitor arrivals to New Zealand arrive around December to January. Secondly, investors channelling funds into higher yielding currencies over the quiet year end period and finally, thin liquidity conditions in NZD given many market participants are away on holiday can all support this trade.
Koh announces that NZDJPY has since hit his target of 69 whilst NZDCAD is still in play. He recommends moving stops higher from 0.8090 to 0.8220 to profit can be effectively captured and protected.
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