What we had today :
- GDP of China is higher than expect . 7.7% vs consensus 7.6%
China is the main trade partner of NZ where NZ export daisy product.
China economy is positive -- NZD is positive too.
- CPI of NZ is also higher expect 1.5%
The problem is NZ want to keep the inflation below 2% benchmark. Now it is 1.5%, still 0.5% .
RBNZ need to take action to keep inflation in their hand to support for NZ economy.
They will rate interest. They must do. The problem is WHEN .
Next week is RBNZ Meeting and most likely they have some hawkish comments or they will raise interest rate. Some news confirm that RBNZ will do it next week.
No matter what they do, NZDUSD will rally cause of good new for NZD.
I hit LONG position, target :0.8430 , Stop Loss at 0.825
- GDP of China is higher than expect . 7.7% vs consensus 7.6%
China is the main trade partner of NZ where NZ export daisy product.
China economy is positive -- NZD is positive too.
- CPI of NZ is also higher expect 1.5%
The problem is NZ want to keep the inflation below 2% benchmark. Now it is 1.5%, still 0.5% .
RBNZ need to take action to keep inflation in their hand to support for NZ economy.
They will rate interest. They must do. The problem is WHEN .
Next week is RBNZ Meeting and most likely they have some hawkish comments or they will raise interest rate. Some news confirm that RBNZ will do it next week.
No matter what they do, NZDUSD will rally cause of good new for NZD.
I hit LONG position, target :0.8430 , Stop Loss at 0.825