Following a two day rally for risk assets, Tuesday has delivered subdued trading conditions, markets trading in tight ranges ahead of the next round of US CPI data to be released in the early hours of Friday morning. Commencing this week near 0.6330, the New Zealand dollar was stronger through Monday, peeking back through 64 US cents following a positive response to Friday’s US employment report. Consolidative price action through Tuesday has constrained NZDUSD in a ~50 point range between 0.6340 and 0.6390. News flow has been light due to a lack of tier one macroeconomic data, markets focused on a speech given Fed ... (full story)