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NZDUSD: Two Potential Supports
It has been a very interesting day so far in global markets despite there being a relative lack of major market moving data released. The biggest news event has been UK CPI which declined to 0.5% and shoved the GBP/USD back below 1.51 briefly before bouncing. Of course, most people can easily point to the fact that oil prices have fallen dramatically over the last few months and are contributing to the lack of inflation worldwide, but there are other factors as well including declining food prices and less than stellar economic performance from the British Isles. As mentioned, part of the fall in inflation has to do ... (full story)
