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Forex Flash: Tomorrow's NZIER Business Confidence in NZ to signal solid growth - BNZ

FXstreet.com (Barcelona) - Tomorrow will come a key risk event for the Kiwi, and “we expect tomorrow’s NZIER Quarterly Survey of Business Opinion to signal solid growth in the bulk of the economy,” says Craig Ebert, Senior Economist at BNZ, adding: “Admittedly, the QSBO doesn’t survey farmers directly, so will miss much of the drought impact, or the canvas the public sector, so will overlook the fiscal consolidation at play.”

“Still, it does provide excellent insight into how the vast majority of the private sector economy is travelling,” the analyst expands, while “We believe this will be upbeat,” Craig adds. “And the QSBO capacity indicators will signal more inflation risk than is apparent in the immediate headline CPI,” Mr Ebert concludes.

Forex Flash: AUD/USD to stay above parity for the remainder of 2013 – NAB

As Ray Attrill notes, Global Co-Head of FX Strategy at the NAB: “Two weeks ago we revised up our forecast for the pair to show it holding above parity for the remainder of 2013, amid reduced confidence that a (modestly) stronger USD over the balance of the year is capable of taking more than a small bite out of the AUD,” Ray says, adding: “and recognition that even if the RBA were to deliver another 50bp of rate cuts in this cycle as NAB currently forecasts, this is unlikely in itself to take much more than a cent off the currency (certainly this is all that the interest rate term in our fair-value AUD model suggests is justified),” the analyst concludes.
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Forex Flash: USD/JPY to remain bid; 100.00/101.50 eyed - RBS

After the USD/JPY rallied despite the disappointing US payrolls report on Friday, this suggests, inn view of Greg Gibbs, FX strategist at RBS, that "the market is still trying to chase sales of JPY post the BoJ."
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