During Tuesday's trading session, the New Zealand Dollar significantly depreciated against the Greenback by 1.57% or 104 pips.

The slump was driven by the New Zealand CPI data release that came out worse-than expected of 0.1% compared with the forecasted 0.3%.

According to analysts, the Reserve Bank of New Zealand is now pressured to cut interest rates in May. Also, as the global economic growth weakens, it is expected, that the RBNZ could reduce the rates once more before the end of 2019.

NZDUSD

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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