Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
New Zealand Dollar Forecast Firmly in Favor of Depreciation

New Zealand Dollar Forecast Firmly in Favor of Depreciation

David Rodriguez, Head of Product


Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at 3.03 as 75% of traders are long. Yesterday the ratio was 3.31; 77% of open positions were long. Long positions are 1.9% lower than yesterday and 13.7% above levels seen last week. Short positions are 7.0% higher than yesterday and 0.2% below levels seen last week. Open interest is 0.2% higher than yesterday and 10.2% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the NZDUSD may continue lower. The trading crowd has grown less net-long from yesterday but further long since last week. We maintain our contrarian bias towards selling the New Zealand Dollar.

See next currency section: GBPJPY - British Pound Expected to Continue Higher versus Yen

--- Written by David Rodriguez, Quantitative Strategist for

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at

Facebook at

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.