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NZD/USD on a Tear, but for How Much Longer?
Over the weekend, New Zealand announced plans to increase infrastructure spending in order to boost growth into 2020. When the markets opened on Monday morning, NZD/USD was shot out of a cannon. Add to that a better than expected NBS China Manufacturing PMI and a better non-official Caixin Manufacturing PMI, and NZD/USD took off. Today is Thursday, and the Kiwi pair hasn’t looked back since! Just today, RBNZ Governor Orr suggested rates are on hold at the next RBNZ meeting in February given the strong data and expected fiscal stimulus over the next year. But is it time for NZD/USD to pause and take a breather? ... (full story)