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- Asian session review: NZD under pressure as RBNZ signals further easing
Asian session review: NZD under pressure as RBNZ signals further easing
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Japan | Manufacturing PMI | September | 47.2 | 47.3 | |
| 00:30 | Japan | Nikkei Services PMI | September | 45.0 | 45.6 | |
| 02:00 | New Zealand | RBNZ Interest Rate Decision | 0.25% | 0.25% | 0.25% | |
| 04:30 | Japan | All Industry Activity Index, m/m | July | 6.8% | 1.3% | |
| 05:35 | Japan | BOJ Governor Haruhiko Kuroda Speaks | ||||
| 06:00 | Germany | Gfk Consumer Confidence Survey | October | -1.7 | -1 | -1.6 |
| 07:15 | France | Services PMI | September | 51.5 | 51.5 | 47.5 |
| 07:15 | France | Manufacturing PMI | September | 49.8 | 50.5 | 50.9 |
| 07:30 | Germany | Services PMI | September | 52.5 | 53 | 49.1 |
| 07:30 | Germany | Manufacturing PMI | September | 52.2 | 52.5 | 56.6 |
| 08:00 | Eurozone | Services PMI | September | 50.5 | 50.5 | 47.6 |
| 08:00 | Eurozone | Manufacturing PMI | September | 51.7 | 51.9 | 53.7 |
NZD fell against most other major currencies in the Asian session on Wednesday, after New Zealand’s central bank, which maintained its cash rate and QE program unchanged at its September meeting, hinted at further easing to help the country’s economy.
“Reflecting the possible need for further monetary stimulus, the Committee noted the progress being made on the Bank’s ability to deploy additional monetary instruments. The instruments include a Funding for Lending Programme (FLP), a negative OCR, and purchases of foreign assets,” the Reserve Bank of New Zealand's (RBNZ) policy statement said. It was also added that the FLP would be ready before the end of this calendar year.
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