The Kiwi Dollar (NZD)
Key news events today
NZD Official Cash Rate
NZD RBNZ Monetary Policy Statement
NZD RBNZ Rate Statement
What can we expect from NZD today?
The RBNZ increased rates by 50bps to take interest rates to 4.75%. This decision saw the NZDUSD spike up from the 0.6220 price level, up to the 0.6250 level. However, the move higher has retraced back to the starting level. This indicates a downward pressure on the NZDUSD. If the NZDUSD breaks below the 0.62 round number support level, further downside could be anticipated, with the next key support level at 0.6040.
Central Bank Notes:
Cash rate stands at 4.75%
Central bank is likely to continue with the current path of rate adjustment
Next meeting is on 5 April 2023
Next 24 Hours Bias
Weak Bearish
