NZD/USD: RBNZ’s tone should underpin the kiwi – ANZ
|NZD/USD sports a 0.64 handle for the first time since early June. Economists at ANZ expect the kiwi to receive further support from the Reserve Bank of New Zealand (RBNZ) next week.
A hawkish MPS next week
“US CPI data show that inflation may have peaked, and markets certainly interpreted it that way, with decent rallies seen in equities and other risk assets. Bond markets reacted more cautiously, with US bond yields having unwound most of their knee-jerk move lower. That leaves us a tad cautious, anticipating potential volatility.”
“The RBNZ MPS next week we think it will be hawkish, and even if some of the dent is taken out of the USD in coming days, the RBNZ’s tone should help the NZD.”
“Support 0.6060/0.6290 Resistance 0.6435/0.6575/0.6660”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.