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NZD Plunges After Disappointing CPI
01/20/10 by Daily Forex Snapshots
Filed under Forex & Futures
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Last night’s Q4 CPI reading out of New Zealand came out at a lower than expected -0.2% QoQ, +2.0% YoY (consensus +0.2% MoM, +2.1% YoY); reducing the likelihood that the RBNZ will shift to a more hawkish stance in the imminent future. As a consequence, NZDUSD plunged from 0.7400 levels just prior to the release down through first support at 0.7330, and is now threatening a break of the major… | ||||||||||||||||||||
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