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NZD/USD: political developments - ANZ

For NZD/USD, analysts at ANZ explained that with a lack of data to start the week, political developments (here and abroad) will remain to focus. 

Key Quotes:

"The tentative new CPTPP deal ‘feels’ better than US political issues, which mean tax overhaul is struggling to get support. Views toward a December Fed hike will be tested with the October CPI important this week. A miss on core expectations, at 1.7%, could cause some pause for thought.

The announcement by Labour to support the CPTPP (a revamped TPPA) should be taken as a positive sign – providing some support for NZD. On the other hand, the United States’ inability to pass legislation – with the current focus on a tax overhaul – is set to continue to impact USD sentiment. The Australian government losing its majority and UK uncertainties will also continue to linger.

Support 0.6920. Resistance 0.6980"

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