The Bank of Canada will publish a rate statement and update on the interest rate on Wednesday, at 17:00 MT time.
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9. One hour later, it will conduct a press conference where the Central Bank will answer questions that worry the market the most.
The market doesn’t anticipate any changes in the interest rate this time. However, it needs clues on the future monetary policy. There are risks that if the economic conditions worsen, the Central Bank will cut the interest rate.
The New Zealand dollar has lost a lot since April 2018. It needs the Central Bank’s support to not plunge further.
• If the Central Bank is hawkish, the NZD will appreciate.
• If the Central Bank is dovish, the NZD will depreciate.
Check the economic calendar
The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time.
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.