
We prepared an outlook of major events of this week. Check it and be ready!
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
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
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