FX_IDC:NZDUSD   NEW ZEALAND DOLLAR / US DOLLAR
850 10 40
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The Reserve Bank of New Zealand cut the official cash rate by 25bp to 3.25% to combat low inflation and the strength of the New Zealand dollar which in an environment of plunging commodity prices had severely dented overseas earnings. Wage inflation and inflation expectations were also viewed as being subdued.
Nonetheless, the economy remains in decent shape with growth of 3% likely this year while macroprudential tools are being used to try and cool the housing market. In fact these have been intensified in hot spots such as Auckland – the use of restrictions on mortgages over certain loan to values and income multiples. Moreover, looser monetary policy, high net immigration and ongoing strength in construction should support activity.
Consequently, while the RBNZ suggested that “further easing may be appropriate”, we don’t expect it in this cycle.
(www.nonsolotrading.com)
+4 Reply
djfingatips SignalSwiss
So this means the trade is no longer valid?
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SignalSwiss TOP djfingatips
This model no, price below C point
+4 Reply
SignalSwiss TOP djfingatips
look weekly chart..... more interesting......
+4 Reply
djfingatips SignalSwiss
Yup. . . I see overbought from Stoch and what looks like a strong support?
+2 Reply
djfingatips djfingatips
Oversold* rather
+1 Reply
Is the setup still valid?
Reply
Ouch.. what has caused that harmful spike?..
+1 Reply
SpLiFT PRO oleg.golubovich
RBNZ has cut the interest rate from 3.5% to 3.25%.
+1 Reply
eurusd?
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