AUD, NZD continue to fall

We had NZ data earlier, pointing to continued RBNZ rate cuts:

• New Zealand Q3 CPI 0.6% q/q (expected 0.7%) & 2.2% y/y (expected 2.2%)
• RBNZ’s Silk says confident inflation will converge to 2% target midpoint in medium term

NZD/USD has continued to slide after that data. AUD dropping also.

Am I going to get sent to the naughty corner if I suggest the two are being pummelled because it looks likely that the Federal Reserve is NOT going to be cutting aggressively ahead ….?

Other factors also, but I reckon that might be a biggie.

This article was written by Eamonn Sheridan at www.forexlive.com.