Check out today’s main market highlights!
This article is originally referred from IronFX News.
RBNZ Interest rate decision
- RBNZ is expected to announce it’s interest rate decision today, at 21:00 (GMT).
- 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%.
- Market focus could shift to the accompanying statement which given the recent financial data may keep a neutral tone.
- 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.
- 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
- USD gained slightly on easing trade fears against it’s major counterparts, however wariness persists.
- A remark made by president Trump, of relying alternate means to control acquisitions, signaled a less confrontational path to the markets on Tuesday.
- 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.
- Should there be positive headlines about the US intentions we could see the USD strengthening.
Original Source: IronFX News