Overall, NZD/USD is ranging across. Recently, NZD/USD bounced down from the key level of 0.68.
The Reserve Bank of New Zealand (RBNZ) hiked its Official Cash Rate (OCR) by 0.25% yesterday during its meeting. The central bank’s committee expressed their willingness to carry out a larger OCR hike in future meetings if necessary. The committee also agreed to start reducing the central bank’s bond holdings under the Large Scale Asset Purchase (LSAP) programme through bond maturities and managed sales. In the released quarterly monetary policy statement, the RBNZ revised their OCR projections upward from Q4 2022 onwards. Inflation projection has also been revised upwards. The overall hawkish tone sent out by the central bank led to the strengthening of NZD.
The New Zealand retail sales q/q data will be released tomorrow at 0545 (GMT+8).
- Core Retail Sales q/q (Forecast: 5.5%, Previous: -6.7%)
- Retail Sales q/q (Forecast: 6.2%, Previous: -8.1%)
NZD/USD’s next support zone is at 0.67100 and the next resistance zone is at 0.68400.
Look for short-term buying opportunities of NZD/USD.
The Reserve Bank of New Zealand (RBNZ) hiked its Official Cash Rate (OCR) by 0.25% yesterday during its meeting. The central bank’s committee expressed their willingness to carry out a larger OCR hike in future meetings if necessary. The committee also agreed to start reducing the central bank’s bond holdings under the Large Scale Asset Purchase (LSAP) programme through bond maturities and managed sales. In the released quarterly monetary policy statement, the RBNZ revised their OCR projections upward from Q4 2022 onwards. Inflation projection has also been revised upwards. The overall hawkish tone sent out by the central bank led to the strengthening of NZD.
The New Zealand retail sales q/q data will be released tomorrow at 0545 (GMT+8).
- Core Retail Sales q/q (Forecast: 5.5%, Previous: -6.7%)
- Retail Sales q/q (Forecast: 6.2%, Previous: -8.1%)
NZD/USD’s next support zone is at 0.67100 and the next resistance zone is at 0.68400.
Look for short-term buying opportunities of NZD/USD.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.