RBNZ is out in it's statement they said: blah blah blah global growth appears to have stabilized
, blah blah blah modest recovery in commodity prices,
blah blah blah global economy remains weak and downside risks remain,
blah blah Domestic activity continues to be supported by strong net immigration, construction, tourism
blah blah We expect inflation to strengthen reflecting the accommodative stance of monetary policy , increases in fuel and other commodity prices, an expected depreciation in the New Zealand dollar and some increase in capacity pressures.
I love when the CBanksters play with the inflation
and other fancy indicators. At the end of the day it is all about the dollar. If FED had played the monetary tightening card accordingly USd would be still going north. Anyways. What to do with KIWI?
I think 0.72 will be major pivot
level.As long as USD is being sold buy the dips.All the majors had nice rally so I think we will get deeper ratracements. Here are the levels for the time being. If wiki retraces watch out for 0.71 level.