However, the Kiwi got a bullish infusion when RBNZ Guv’nah Graeme Wheeler gave a speech on Wednesday. In his speech, Wheeler reiterated his concern over the housing market, saying that:
“Numerous measures indicate that New Zealand house prices are significantly inflated relative to usual valuation indicators.”
Overall, a relatively upbeat speech that supports keeping rates steady for longer, which is why the Kiwi rallied. Anyhow, the Kiwi’s price action later began to diverge for no apparent reason on Friday.
"" I say its going to be a bearish pair for the next 24 hours at least ""
“Numerous measures indicate that New Zealand house prices are significantly inflated relative to usual valuation indicators.”
Overall, a relatively upbeat speech that supports keeping rates steady for longer, which is why the Kiwi rallied. Anyhow, the Kiwi’s price action later began to diverge for no apparent reason on Friday.
"" I say its going to be a bearish pair for the next 24 hours at least ""