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Forex Flash: NZD/USD, no RBNZ intervention in the horizon – TDS

With Kiwi last trading at near sesion highs 0.8385, off ysterday's fresh 8-day lows at 0.8315, Singapore based analyst at TD Securities Alvin Pontoh believes RBNZ wont intervene in the near future because not enough necessary conditions are met, nor “the RBNZ cannot fight 'the strength of capital flows' that has pushed the Kiwi upwards,” Alvin says.

“Even if the RBNZ intervenes, it is constrained to merely 'smooth[ing] the peaks'. If this can be achieved with negligible cost through ‘open mouth operations’, then why intervene in the first place with precious few resources at hand?,” he concludes.

Forex: AUD/USD extends gains above 1.0320

AUD/USD extends the gains following RBA gov not very dovish comments earlier on the session, printing fresh highs at 1.0322, now off those highs at 1.0315 last. Aussie is also stronger against Euro, printing fresh 1-month lows in EUR/AUD cross at 1.2791. AUD/USD is back to positive for the week so far, up a tiny +0.16%, while Australian ASX index is higher by near +1% for the day.
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Forex: EUR/USD, bearish storm set to continue?

Poor Eurozone data was a burden too heavy to carry for the Euro, which fell to near a 3-month low against the US Dollar, which has recently enjoyed sizeable bids on expectations that the wisdom of QE in the US is losing its momentum, and that sooner rather than later, Bernanke and Co. may start to slowly withdraw the stimulus.
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