NZDUSD aims to test 0.6200 amid escalating hawkish RBNZ bets – by Sagar_Dua24 NZDUSD RBNZ PBOC Fed Inflation
and his teammates. The Federal Reserve is developing strategies to bring a slowdown in the overall demand so that manufacturers and service providers would leave with no incentive of keeping price growth stable or higher. Also, sustainability in demand for durable goods in times of accelerating interest rates is exposing the economy to economic turmoil. Households are banking upon higher interest obligations led by restrictive monetary policy by the Federal Reserve.
In case of a better-than-expected release of the US Durable Goods Orders data, the Federal Reserve will be required to continue its bigger rate hike regime. This may support the US Dollar to register more gains ahead.To tackle the historic surge in inflationary pressures, the Reserve Bank of New Zealand is continuously hiking its Official Cash Rate . Reserve Bank of New Zealand Governor Adrian Orr has already announced five consecutive 50 basis points rate hikes to 3.
The move could strengthen the New Zealand Dollar ahead but will leave less room for more rate hikes by the Reserve Bank of New Zealand. Also, this will shift more responsibilities on economic dynamics to play ahead.Easing in Covid-19 restrictions in China has not started yet and the numbers of infections are sky-rocketing.
Investors should be aware of the fact that New Zealand is a leading trading partner of China and an expansionary monetary policy by the People’s Bank of China will strengthen New Zealand Dollar bulls ahead.NZDUSD is attempting to cross the supply zone placed in a narrow range of 0.6163-0.6200 on a daily scale. The 20-and 50-period Exponential Moving Averages have delivered a bullish cross around 0.5880, which adds to the upside filters. While the 200-period EMA at 0.
The Relative Strength Index has shifted into the bullish range of 60.00-80.00, which indicates that bullish momentum has been activated.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NZDUSD registered weekly gains as traders focused on next week RBNZ’s decisionNZDUSD registered weekly gains as traders focused on next week RBNZ’s decision – by christianborjon NZDUSD Majors Macroeconomics Technical Analysis
Read more »
RBNZ Shadow Board majority favours 75BPS rate riseReserve Bank of New Zealand Shadow Board members recommend another hike in the Official Cash Rate (OCR) in the Reserve Bank’s upcoming November meetin
Read more »
EURUSD attempts a rebound near 1.0300 as hawkish ECB bets soarThe EURUSD pair has picked some bids after dropping to near the critical support of 1.0310 in the early Asian session. The asset has sensed buying int
Read more »
NZDUSD registered weekly gains as traders focused on next week RBNZ’s decisionNZDUSD registered weekly gains as traders focused on next week RBNZ’s decision – by christianborjon NZDUSD Majors Macroeconomics Technical Analysis
Read more »
How to Bet on the World Cup | Complete 2022 Betting GuideLooking to bet on the World Cup? Look no further than this step-by-step guide for World Cup betting.
Read more »
Bears vs Falcons Odds, Picks & Predictions - NFL Week 11Justin Fields has unlocked a new level over the last few weeks and leads the Bears into Atlanta trying to pick up a victory. Our NFL picks are siding with the visiting squad. Read about it below. ✍️
Read more »