Forex pairs in this Article » NZD/USD
FXstreet.com (San Francisco) - NZDUSD is sharply weaker after Statistics New Zealand reported a soft NZ CPI inflation reading at 0.8% (1.1% cons) in the year to Q3, adding to the case for future RBNZ easing, which is weighing heavily on NZD at the time of writing. Immediately following the release, the market nosedived to take out bids below 0.8150 (as low as 0.8148) from 0.8175 just moments before the release. The 50-day EMA appears to be limiting slides in the short-term, but a break below the mean may open scope to retest bids rear the 50% Fibonacci retracement at 0.8133. NZ also enjoyed a modest 0.3% quarterly increase (0.6% cons.) in CPI. NZDUSD now exchanges 0.8160.