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During the early Asian trading hours, the Reserve bank of New Zealand surprisingly cut its interest rate from 1.75% to 1.5%. According to the words by the RBNZ Governor Adrian Orr, the bank is currently uncertain about the future path of the interest rates. One of the main reasons behind these uncertainties lie in the US-China trade war and lower figures for business sentiment and consumer spending.
The kiwi plunged below the weekly pivot support at 0.6565 towards the next support at 0.6524. If bearish pressure continues, the next support will lie at 0.65. On the flipside, if the kiwi manages to recover, it will rise above the weekly pivot level at 0.6603. The next resistance is placed at 0.6644.
The Reserve Bank of New Zealand will reveal the official cash rate, monetary policy statement, make a rate statement, and after that will answer questions in a press conference on February 23, 03:00 GMT+2.
Reserve Bank of New Zealand (RBNZ) will reveal Official Cash Rate and make a statement about monetary policy on October 6, 04:00 GMT+3.
The main bank of Russian will likely turn hawkish today. Time to sell USD/RUB?
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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