
The Fed Chair Jerome Powell will testify on the Semi-Annual Monetary Policy Report before the House Financial Services Committee on June 22-23 at 17:00 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3. After that, the head of the bank will hold a press conference.
In the third quarter of 2022, the inflation rate of New Zealand increased by 6.9%. It was the highest gain since the second quarter of 1990. The Reserve Bank of New Zealand had already begun its tightening cycle last year, and it pushed the interest rate to 1.5% in April. Now, analysts expect the central bank to boost the rate by 50 basis points to 2%. Moreover, Governor Orr’s comments on a further tightening step will make the NZD volatile.
Last time, NZDUSD started to rise right before the rate hike, but it fell back, following the pair's downtrend. A scalper could earn around 100 points on the retracement. A 1-lot trade would have brought a profit of $100.
Follow the interest rate announcement and make your trading decisions based on it.
Instruments to trade: NZDUSD, NZDJPY, NZDCHF
The Fed Chair Jerome Powell will testify on the Semi-Annual Monetary Policy Report before the House Financial Services Committee on June 22-23 at 17:00 GMT+3.
Canada will publish Retail Sales and Core Retail Sales on June 21 at 15:30 GMT+3.
The US PPI will come out on Tuesday, June 14, at 15:30 MT time (GMT+3).
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).
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