Tuesday, July 12, 2011

Westpac Buy Kiwi versus Euro

New Zealand’s Q1 GBP figures are released on Wednesday, July 13, at 22:45 GMT.

The economy that suffered in February from the devastating earthquake is rapidly recovering.
Analysts at Westpac expect the nation to show accelerating economic growth gaining 0.3-0.5% in the first 2 months of the year after adding 0.2% in the final quarter of 2010.  

The specialists believe that New Zealand’s dollar will get support from the data publication. In their view, it’s necessary to open longs on kiwi against the single currency at 1.7250 stopping at 1.7450 and targeting 1.6900.

Economists at Nomura Securities claim that the People’s Bank of China may be buying NZD. According to the bank, big central banks may get more interested in kiwi.

writed by FBS Holdings © 2011