The New Zealand Dollar depreciated against the US Dollar, following the New Zealand Official Cash Rate data release on Wednesday at 02:00 GMT. The NZD/USD exchange currency rate lost 78 pips or 1.91% right after the release. The Kiwi continued trading at the 0.6580 level against the US Dollar.
The Reserve Bank of New Zealand released the New Zealand Official Cash Rate, which came out lower-than-expected of 1.50% compared with 1.75%.
According to the official release: "The Monetary Policy Committee decided a lower OCR is necessary to support the outlook for employment and inflation consistent with its policy remit. Global economic growth has slowed since mid-2018, easing demand for New Zealand's goods and services. This lower global growth has prompted foreign central banks to ease their monetary policy stances, supporting growth prospects."
| Date | 26.09.18 | 07.11.18 | 13.02.19 | 27.03.19 | 08.05.19 |
|---|---|---|---|---|---|
| Actual | 1.75% | 1.75% | 1.75% | 1.75% | 1.50% |
| Forecast | 1.75% | 1.75% | 1.75% | 1.75% | 1.75% |
| Pair | Open | Close | Change |
|---|---|---|---|
| EUR/NZD | 1.69687 | 1.71137 | 0.85% |
| GBP/NZD | 1.98135 | 1.99788 | 0.83% |
| NZD/JPY | 72.71200 | 72.031 | -0.94% |
| NZD/USD | 0.66041 | 0.65433 | -0.92% |
| Pair | Longs | Shorts |
|---|---|---|
| EUR/NZD | 26.3% | 73.7% |
| GBP/NZD | 26.1% | 73.9% |
| NZD/JPY | 70.5% | 29.5% |
| NZD/USD | 75.8% | 24.2% |
| GMT | Currency | Event | Forecast | Previous |
|---|---|---|---|---|
| 1:30 | AUD | RBA Monetary Policy Statement | - | - |
| 8:30 | GBP | GDP m/m | 0.0% | 0.2% |
| 8:30 | GBP | Manufacturing Production m/m | 0.1% | 0.9% |