FXstreet.com (Barcelona) - In his first communiqué in the hot seat, the RBNZ Governor Wheeler left rates unchanged at 2.5% as expected, but was widely perceived as hawkish due to the inclusion of “for now” in the statement, suggesting that the cash rate may not remain lower for longer after all. The market bought Kiwi Dollars, spiking to $US0.82 (TD year-end target) and 2yr swaps jumped from 2.56% to 2.63%. “The other “surprise” observation was that risks to the global outlook were “more balanced” – coming from an ex-World Banker this certainly defied the doves”, wrote Annette Beacher, Head of Asia-Pacific Research at TD Securities.
Forex Flash: RBNZ hawkish in Wheeler's first communiqué – TD Securities
Thu, Oct 25 2012, 08:32 GMT | FXstreet.com
NZD/USD May 19 at 16:12 GMT
0.8061/68 (0.02%)
H0.8065 L 0.8062
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Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
