NZD - BULLISH 1️⃣ NZD benefitted from risk-on tone boosted after House Speaker Nancy Pelosi set a Tuesday deadline for the White House to agree on further fiscal stimulus. 2️⃣ Westpac’s economists say the RBNZ will need to take further action due to a low inflation outlook, after a recent house price surge sparked fears that the central bank could over-inflate asset prices with more rate cuts. 3️⃣ The BusinessNZ Performance of Services Index for October read at 55.4, adding 0.9 points from the previous month.
CAD - BEARISH 1️⃣ Crude oil prices declined amid mounting concerns over fuel demand recovery as the number of coronavirus infections continue to rise and several countries including the UK and Italy imposed fresh restrictions.
===== TECHNICAL ===== - We're looking to long NZDCAD on RBS level + 50% fibo retracement on H1 chart. - NZDCAD in bullish zone.