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Forex: NZD/USD bounces back to 0.8654/57

FXstreet.com (Barcelona) - The NZD/USD rally has continued during American trading Thursday, despite a retreat off of session highs at 0.8679 earlier today. However, in recent moments, the cross has bounced off the 0.8635 level to regain its gains at 0.8654/57 at the time of writing. At this juncture, the cross is trading at +0.93% above its opening.

According to the ICN.com Analyst Team, “The NZD/USD pushed higher as expected, triggered by consolidation above 0.8500, which might extend the upside move in the coming period. We expect the pair to resume the upside wave today and over the interim targeting previous records high.”

Mataf.net analysts points to short-term resistances at 0.8675, onto 0.8725, and 0.8765. On the decline, the NZD/USD is slated to face short-term support at 0.8635 ahead of 0.8610, and finally the 0.8585 handle.

Forex Flash: BoJ policy has global ramifications – Goldman Sachs

The importance of the BoJ’s shift extends beyond Japan’s own markets in ways that mostly reinforce our core views. The BoJ is extending the long easing in G4 financial conditions. “Beyond its direct contribution, Japan’s easing helps—at the margin—to keep policy easier globally and yields lower both outside and inside Japan. This should help to underpin a move to fresh highs in global equity markets, as long as the global growth environment does not deteriorate further.” Suggests the Economics Research Team at Goldman Sachs.
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