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Will the RBNZ support the kiwi?

Will the RBNZ support the kiwi?

Information is not investment advice

Will the RBNZ support the kiwi?

The New Zealand interest rate is announced on Wednesday at 03:00 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 and the rest of the world, some restrictions had to be imposed once again. That affects the consumer and business activity in view of the cloudy recovery. While the quantitative easing measures have been undertaken previously, the Bank’s board doesn’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.

Check the economic calendar

NZD2.jpg

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USD Moves Weird Ahead of CPI

The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.

The NFP Release: One More Punch for USD?

The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.

The UK Speeds Up Tightening

The Bank of England (BoE) will share its Official Bank Rate and make a statement on monetary policy on August 4, 14:00 GMT+3.

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