NZD/USD bears taking a bite out of bullish structure – by fx_ross NZDUSD Currencies DollarIndex RBNZ Fed
ping from a high of 0.6365. The US Dollar has been struggling to break higher which had been giving the commodity complex some room to breathe but the tables are turning.
New Zealand Business confidence has plummeted to a fresh record low in December, down 13 points to -70. Expected own activity fell from -14 to -26. Analysts at ANZ Bank said that the ''Reserve Bank of New Zealand appears to have achieved shock value with its sharp increase in the OCR, hawkish forecasts, and warning of deliberate recession in 2023. Manyare around Global Financial Crisis lows. Inflation pressures remain intense. Wage expectations jumped.
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