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New Zealand Jan Business NZ PMI rises to 55.2 vs 50.1

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Forex: NZD/USD breaks up pennant pattern; 0.8480-0.85 feasible?

The resilient New Zealand economy continues to give joy for long players on the Kiwi, and after the pair consolidated within a tight pennant pattern, the January s/a adj PMI in New Zealand, up at 55.2 from an upward revised 50.4 in December, has finally acted as the catalyst sending the pair surging just above 0.8450 from 0.8407.
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