Market Wrap: Weak Dollar, Strong NZD and Gold
The NZD rocketed after the Reserve Bank of New Zealand claimed it would end quantitative easing this month. Jump in to know more!
The Reserve bank of New Zealand provides an opportunity to trade the NZD
The monetary policy statement by the Reserve bank of New Zealand is scheduled for February 13 at 03:00 MT time.
The RBNZ will not make changes to the interest rate this time and keep it at 1.75%. But the central bank may provide some comments on the possible changes to its monetary policy in the future. During the last meeting, the RBNZ governor Adrian Orr noted the central bank expects to keep the rate at the current level until 2020 and provided hints on the possible rate cut. If the statement is more hawkish this time, the NZD will be supported.
• If the RBNZ is hawkish, the NZD will rise;
• If the RBNZ is dovish, the NZD will fall.
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