NZD Will Follow RBNZ
The coming week will be exciting for NZDUSD. But for dollar moves, the Reserve Bank of New Zealand monetary meeting will have a significant effect on the pair. Therearehighchancestoseetheratesunchangedatcurrent 1.75%. Theeconomygrowthisslowing. Inflationisslowing. The CPI slid to 1.7% to 2.2% previously.
The recent meeting we saw the RBNZ was quiet on the recent NZD appreciation. However, the local economy is dependent on the export activity, and on the recent rise of national currency may have negative effect on its state. Thus, we don’t rule out the central bank will be more cautious about NZD appreciation.
It may put NZD under pressure and send it lower with initial target at 0.7330 followed by 0.7260.
The recent meeting we saw the RBNZ was quiet on the recent NZD appreciation. However, the local economy is dependent on the export activity, and on the recent rise of national currency may have negative effect on its state. Thus, we don’t rule out the central bank will be more cautious about NZD appreciation.
It may put NZD under pressure and send it lower with initial target at 0.7330 followed by 0.7260.
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