Collinson FX Market Commentary - June 1 - NZD looking for a new home
by Collinson FX on 1 Jun 2017
Starling National Championships - Final Day - Wakatere Boating Club. April 18, 2017 Richard Gladwell
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Collinson FX Market Commentary - June 1 - NZD looking for a new home
European Employment was static and inflation data lost pressure. EU CPI drifted lower, contradicting recent growth prospects, further adding to ECB continued QE status quo.
The ECB President has reiterated that monetary policy will remain extremely accommodative and this lends substance to that expectation. This did not stop the EUR regaining 1.1200, as the US Dollar drifted, with further rate rises by the Fed under question. The GBP is reacting to the polls, as the election approaches, with the latest poll suggested a strong Tory lead.
This has pushed the GBP back towards 1.2900 and will be volatile if the polls tighten. The NZD is building technical resistance at 0.7100, while the AUD slipped back to 0.7425, unaided by weaker commodity prices. There has been a slew of global economic data, but most in line with expectations, so a surprising number or a Geo-Political event may be needed to spark the
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