NZD/USD traders roll up sleezes for domestic data
- NZD/USD bulls are in riding the AUD´s coattails.
- Focus will turn domestic with NZ GDP coming up.
NZD/USD has been range bound in the prior day following the Reserve Bank of Australia´s surprise hawkish hike. NZD/USD is steady in early Asia, sitting near 0.6075.
´´The Kiwi is little changed this morning and most crosses, with the exception of NZD/AUD, are likewise following a fairly muted night on global FX markets,´´ analysts at ANZ Bank explained.
The analysts explained with the RBA behind us and the AU market now pricing in a follow-up hike, the focus returns to local data and events.
In this regard, markets will be looking to New Zealand's first quarter Gross Domestic Product partials, the analysts said, like manufacturing (tomorrow) out and the Fed in blackout ahead of its meeting next week.
´´We continue to think about carry but are beginning to ask if NZ’s external position might suddenly become a sticking point when current account data is published next week.´´