May 10, 2017

FXPRIMUS, New Zealand's Interest Rate Decision Today! What to focus on & Expect?

Important Upcoming Interest Rate Announcement By RBNZ.

This article is originally referred from FXPrimus News.

RBNZ will announce their interest rate decision today.

The Reserve Bank of New Zealand is expected to leave the interest rate unchanged at its record low of 1.75%, where it has been since November 2016.

However, with the latest inflation data showing inflation rising to 2.2%, analysts are expecting that the central bank will bring forward its previous forecasts for future rate hikes from late 2019.

NZDUSD Technical Chart

On another note, US president Trump surprised the world by firing the FBI director James Comey.

The White House said that the firing is related to Comey’s mishandling of the Clinton investigation, especially in July last year.

Yesterday the US Dollar was rallying without a clear reason. The most recent jobs report was quite mixed and did not necessarily point to a rate hike by the Federal Reserve, nor did the Fed hint for a hike.

Today’s Forecast for Important Trading Indicators

 Time in GMT Country Indicator Expected Previous
12:30 pm EZ ECB Draghi Speaks
09:30 pm NZD Official Cash Rate 1.75% 1.75%
09:30 pm NZD Rate Statement
10:00 pm NZD RBNZ Press Conference

Market Movers

  • USD/JPY is trading at 113.75 after having reached 114.30. EUR/USD was trading at 1.0870. Other currency pairs are also seeing the USD on the back foot.
  • AUD continued to weaken as more negative data was coming.
  • The Canadian Dollar has been weakening along the fall in oil prices.

FXPrimus Official Website

Original Source: FXPrimus News

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