The main bank of Russian will likely turn hawkish today. Time to sell USD/RUB?
The RBNZ can make the kiwi weak
The Reserve bank of New Zealand will make its statement and announce an official rate on August 7, at 5:00 MT time. After that, the RBNZ governor Adrian Orr will conduct a press conference at 6:00 MT.
Markets forecast the rate cut by 25 basis points from 1.5% to 1.25%. This move will be similar to May’s one, where the bank cut its interest rate by a similar amount of points. The reasons behind the anticipated decision are the ongoing trade tensions between the US and China and the slowdown of New Zealand’s economy. In addition, the comments by Mr. Orr will be in focus, as he will share his further expectations concerning rates.
• If the RBNZ cuts its rate, the New Zealand dollar will fall;
• If the RBNZ does not cut its rate, the New Zealand dollar will rise.
The New Zealand interest rate is announced on Wednesday at 03:00 MT time.
The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!