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NZD/USD: general review on 05.06.2015

Following some fluctuations during Asian and European sessions the pair NZD/USD stopped at the today’s opening level of 0.7120 in the anticipation of the US non-farm payroll figures due 15:30 (GMT 3). However, regardless of the results of NFPR, the pair NZD/USD is likely to continue declining. The NZD is under the pressure from a decrease in dairy product prices as well as from a soft monetary policy of the NZRB. Even if the NZRB leaves interest rate unchanged at 3.5% at the meeting next Thursday, the interest rate is likely to be cut twice until the end of the year.

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