#NZDUSD @ 0.63268 traces options market optimism above 0.6300
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NZD/USD grinds higher around intraday top near 0.6330 while portraying the market’s cautious optimism, as well as taking upbeat signals from the options market data, during early Thursday.
While doing the same, the Kiwi pair fails to justify the hawkish Federal Reserve (Fed) rhetoric amid easing fears surrounding China.
Also read: NZD/USD bears move in and eye a bearish close for the day
That said, the key options market catalyst, one-month risk reversal (RR), prints a three-day uptrend and rises to the highest level in a week while posting 0.070 figures by the end of Wednesday’s North American trading session.
It’s worth noting that the RR is a ratio of call options versus put options, suggesting buyers’ optimism with positive figures and vice versa.
Not only the daily RR but the weekly one-month RR for the NZD/USD price also keeps the pair buyers hopeful as it snaps the three-week downtrend with the 0.115 figures for the current week.
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