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NZD/USD: in anticipation of the price index of dairy products on 05.05.2015

The currency pair NZD/USD has slightly regained at the beginning of this week. On Monday, the price has repeatedly tested the level of 0.7555 (moving average line of Bollinger bands) but failed to consolidate above this level. Today, the decline in price continued due to the decision of the Bank of Australia to reduce interest rate from 2.25% to 2.0%. Note also that today, new price index of milk and milk products from the auction Global Dairy Trade will become known. It is expected that the price of milk will go down, which will add pressure on the NZD, as dairy products are the main export item of New Zealand.

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