- Analytics
- News and Tools
- Market News
- NZD/USD: Fed to put Funds rate above the RBNZ’s OCR, a challenge for the kiwi – ANZ
NZD/USD: Fed to put Funds rate above the RBNZ’s OCR, a challenge for the kiwi – ANZ
NZD/USD remains below 0.60. Economists at ANZ Bank expect the kiwi to remain under pressure as the Federal Reserve is set to put Fed Funds rate above the RBNZ’s OCR.
Technical levels of 0.60 and 0.5940 can be quickly overcome by macroeconomic events
“The kiwi remains below the psychological 0.60 level. Support at 0.5940 (the 76.4% Fibo of the 2020/21 rally) has held so far in a textbook fashion, but these technical levels (on both sides of the current price) can be quickly overcome by macroeconomic events, and this week brings the September Fed meeting.
“It’s a light data week locally, and that makes the Fed the singular focus, and importantly, either 75 or 100 bps will put the Fed Funds rate above the RBNZ’s OCR; that’s the NZD’s challenge.”
“Support 0.5825/0.5915/0.0.5940 Resistance 0.6160/0.6400.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
