Wednesday, 23 May 2012

NZD/USD Sideways; Market Awaits EU Summit News-ANZ


The NZD/USD is drifting as the market awaits news from the EU summit, says ANZ in its morning briefing. "There were a number of headlines out overnight on Europe, but nothing of any substance. Markets await a press conference (due shortly)." ANZ adds while they're not expecting much to come out of summit talks, the NZD is likely to be pushed to fresh lows during the Asian session. "Markets remain jittery with increased talks around a Greek exit from the euro and a potential stalemate at the EU Summit." The pair is at 0.7524 vs 0.7526 late Wednesday. ANZ expects the pair to trade within a short-term range of 0.7460-0.7530.

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