The United States will publish Core PCE Price Index on Thursday at 15:30 GMT+2.
Should we expect more easing by the RBNZ?
The Reserve Bank of New Zealand (RBNZ) will publish the monetary policy statement and announce the interest rate at 05:00 MT time on May 13.
Instruments to trade: NZD/USD, NZD/CHF, NZD/JPY
Each quarter, the regulator conducts a meeting where its policymakers discuss current economic stance and forecasts for upcoming quarters. Based on that they reveal tools for supporting an economy of the country in the monetary policy statement, including an update on the interest rate. In the middle of March, the RBNZ cut its interest rate to the record low of 0.25%. Analysts suggest that the global uncertainties and widespread weakness amid the pandemic may push the bank to cut the interest rates to negative levels. Also, we may expect more easing to be introduced this week.
• If the RBNZ eases its policy, the NZD will weaken;
• If the RBNZ keeps the policy unchanged, the NZD will strengthen.
Canada will post Retail Sales and Core Retail Sales on December 21, at 15:30 GMT+2.
Federal Reserve will make a statement on November 3, 20:00 GMT+2. There we will hear about Fed’s view on the current economic situation, tapering plans, and other hawkish or dovish tones.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.