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NZDUSD: Intraday Analysis & Setup update

NZD/USD edges back above 0.61 early on Monday, but ANZ Bank thinks price action will likely stay muted ahead of this week’s Fed decision and U.S. non-farm payrolls data. “If there’s anything hawkish (or even less dovish) in the Fed statement, we could see the USD pop higher, especially with U.S. markets 50/50 on a March Fed cut, which seems a bit too soon,” ANZ says in a note. On the domestic front, RBNZ Chief Economist Conway is due to speak at 9am on Tuesday. “It’s hard to imagine him revving up expectations for OCR cuts, which might help the ailing NZD,” ANZ says.

 

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