NZD/USD, AUD/USD are both staging a corrective bounce with the improved risk sentiment likely to help both pairs for another day, says Westpac in its morning report. "Sentiment rebounded following the weekend's G-8 focus on growth and the ECB's expanded liquidity offering, compounded by yesterday's pledge from China's Premier Wen to bolster growth via fiscal and monetary policies." Westpac says that the Australia event calendar is quiet and the RBNZ's inflation expectations (due 0300 GMT)are likely to remain contained. The AUD/USD is at 0.9917 vs 0.9830 late Monday. Westpac says as long as 0.9795 holds, it favors a continuation of this corrective bounce to the 0.9960-1.0060 area. The NZD/USD is at 0.7649 vs 0.7597 late Tuesday. Westpac says it favors a continuation of this corrective bounce to the 0.7690-0.7800 area.
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