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Instrument: NZDUSD
Bullish Preference:
A Buy position is envisaged if the price trades above 0.58192 with take profit at 0.58278.
Bearish Preference:
A Sell position is envisaged if the price trades below 0.58082 with take profit at 0.57981.
Fundamentals:
USD
1:30 pm Core PCE Price Index m/m
Personal Income m/m
2:00 pm USD FOMC Member Barr Speaks
3:00 pm USD Revised UoM Consumer Sentiment
Comment:
The Reserve Bank of New Zealand said on Thursday defaults in banks’ agricultural lending portfolios were expected to increase as the sector faces tough economic conditions due to low prices, high operating expenses and increased debt servicing costs.
Federal Reserve Chairman Jerome Powell’s comments on Thursday regarding possible interest rate hikes, attributed to a robust economy and tight labor market, heightened trader risk aversion.
Analysis: SCRUM Team
