Currency market on December 6: the NFP Friday
Black Friday for the currency market: the Non-Farm Payrolls are out!
Rate decision by the RBNZ: the downside risks for the kiwi
The Reserve bank of New Zealand will release the monetary policy statement and its interest rate at 3:00 MT on November 13. After that, the RBNZ governor Adrian Orr will conduct a press conference at 4:00 MT.
After the interest rate remained unchanged at the record low of 1% during the previous meeting, the regulator noted that there remains scope for more monetary stimulus as the economy needs to be supported. Now, analysts forecast the 64.3% chance of a rate cut by 25 basis points. The expectations of this kind of decision have increased after the release of New Zealand's business confidence and job data last week. The first indicator showed an improvement to -42.4 in October, but the figures are still negative. At the same time, the unemployment rate increased to 4.2%.
• If the RBNZ cuts its rate, the NZD will fall;
• If the RBNZ doesn’t cut its rate, the NZD will rise.
Similar
Currency market on December 5
The GBP is surging, the AUD inched lower and the MXN has strengthened
Boris Johnson drives the GBP up
The British pound has rallied versus the other major currencies on the growing expectations that Prime Minister Boris Johnson would win a majority at December 12 election.
Latest news
Currency market on December 6: the NFP Friday
Black Friday for the currency market: the Non-Farm Payrolls are out!
Currency market on December 5
The GBP is surging, the AUD inched lower and the MXN has strengthened
Boris Johnson drives the GBP up
The British pound has rallied versus the other major currencies on the growing expectations that Prime Minister Boris Johnson would win a majority at December 12 election.
Deposit with your local payment systems
