NZD/USD: expecting dips to be shallow despite nonfarm payrolls - ANZ

Analysts at ANZ noted that the Kiwi is finally showing signs of consolidation, as we thought it eventually might, finding a new level around 0.6900. 

Key Quotes:

"It’s only early days yet, but with a March Fed rate hike now fully priced and two full hikes priced in over the remainder of the year after that, the bulk of the interest rate expectations re-adjustment looks done, and is unlikely to add fresh support to the USD. 

US non-farm payrolls data tonight (along with unemployment and wages data) could lead to some reassessment, but little now stands in the way of a March hike and even soft data tonight is unlikely to derail it. Local factors remain NZD supportive, and we expect dips to be shallow."