At the beginning of the month, I wrote about a potential double top
on the NZDCAD
cross (in French : http://bit.ly/1byzMz0
). It's way too early to confirm, but the recent weakness in the NZD suggests that the kiwi dollar may continue to lose ground while the CAD benefits from the bounce in oil
prices as well as the rise in inflation
in Canada. There is a big risk ahead with the RBNZ, who may be much more dovish than before after the last Chinese growth data.