NZD/USD hit 0.8475 on Friday, the pair’s highest since September 5, 2011; the pair subsequently consolidated at 0.8460 by close of trade, 1.64% higher for the week.
The pair is likely to find support at 0.8420, and near-term resistance at 0.8475.
The U.S. central bank said Wednesday it would continue to purchase USD85 billion a month of government bonds and mortgage based securities in order to shore up the economic recovery.
The Fed also said interest rates would remain close to zero as long as inflation forecasts remain near the bank’s 2% target and until the U.S. unemployment rate declines to 6.5% or less.
In the coming week, investors will be continuing to monitor the progress of talks in Washington on the fiscal cliff. Market players will also focus on the release of third quarter GDP data for New Zealand.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
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