When is the RBNZ Interest Rate Decision and how it could affect NZDUSD?
NZDUSD renews the yearly low near 0.5950 heading into the RBNZ Interest Rate Decision. The Kiwi pair’s latest fall could be linked to the broad risk aversion wave and the US Dollar strength, especially amid downbeat concerns surrounding China.
That said, the clear early signals of witnessing no rate hike limit the NZDUSD moves unless the RBNZ surprises the Kiwi pair traders.
Apart from the interest rates, the economic forecasts and language of the RBNZ Rate Statement will also be the key for the NZDUSD pair traders to watch.
It’s worth noting that the existence of the Fed Minutes dims the importance of today’s RBNZ announcements unless any surprises erupt.
Edited 16 Aug 2023, 14:52
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.