Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Will the RBNZ support the kiwi?
Information is not investment advice
The New Zealand interest rate is announced on Wednesday at 05:00 MT time.
Instruments to trade: NZD/USD, AUD/NZD, NZD/CHF, EUR/NZD
The interest rate in New Zealand was reduced to 0.25% in March in response to the virus and has been kept steady at this level since then. As the second wave of the virus hit the country after the lockdowns were lifted, the restrictions had to be imposed once again. That affected the consumer and business activity in view of the cloudy recovery. While the quantitative easing measures have been undertaken, the Bank’s board advised that they don’t rule out a further reduction in the interest rate as the outlook is gloomier than expected and the Bank is running out of instruments to stimulate the economy. That’s why the announcement coming this week is pretty crucial in understanding the course of the RBNZ and the near-term economic future of New Zealand. Positive tones will boost the NZD while a dovish stance will press it to the downside.
- If the RBNZ’s tone is hawkish, the NZD will rise.
- If the RBNZ’s tone is dovish, the NZD will fall.
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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