June 27, 2018

IronFX, Investors' focus on RBNZ Interest rate decision & US Trade Wars

Check out today’s main market highlights!

This article is originally referred from IronFX News.

RBNZ Interest rate decision

  1. RBNZ is expected to announce it’s interest rate decision today, at 21:00 (GMT).
  2. RBNZ is widely expected to remain on hold and keep interest rates at +1.75%, currently NZD OIS imply a probability for the bank to remain on hold at 99.29%.
  3. Market focus could shift to the accompanying statement which given the recent financial data may keep a neutral tone.
  4. Special interest could be allocated to any comments regarding the GDP growth rate and as well as the picking up of the inflation rate and global trading conditions.
  5. We could see the Kiwi weakening with the release and the market may have started to position itself already.

USD gains on easing trade fears

  1. USD gained slightly on easing trade fears against it’s major counterparts, however wariness persists.
  2. A remark made by president Trump, of relying alternate means to control acquisitions, signaled a less confrontational path to the markets on Tuesday.
  3. According to media, a spill over may occur, as Canada also prepares steel import quotas and tariffs on China and other countries, in order to block steel diverted from the US.
  4. Should there be positive headlines about the US intentions we could see the USD strengthening.

IronFX Daily Report ‘June 27th’

Original Source: IronFX News

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