- Analytics
- News and Tools
- Market News
- NZD/USD: With the AUD leading the Kiwi, RBA meeting is key by association – ANZ
NZD/USD: With the AUD leading the Kiwi, RBA meeting is key by association – ANZ
The Kiwi ended June higher as the USD slipped, likely supported by month-end portfolio rebalancing flows. Tomorrow’s RBA decision will be key, economists at ANZ Bank report.
NFP on Friday, a key input into the July Fed decision
Rebalancing flows undoubtedly favoured the Kiwi, with the NZD up just 0.9% in June vs the S&P 500’s 6.5% gain, implying that investors wanting to maintain portfolio weightings would have sold US stocks and the USD. So the question is, was that a one-off flow, or can this bounce be sustained? Let’s see.
This week is another quiet one on the local data front, but with the AUD leading the Kiwi, tomorrow’s RBA meeting (we expect a hike) is key by association. We also get US Nonfarm Payrolls on Friday, a key input into the July Fed decision (we expect a +25 bps hike).
© 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
