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"The RBNZ is pretty determined to begin the process of normalising rates, so there's no surprise that they've hiked the official cash rate and the outlook is more hikes over the next couple of years."
- ASB (based on the New Zealand Herald)
Pair's Outlook
In the end of the last trading day and today we have seen the pair advancing significantly and it continues to trade above this year's previous high (0.8522). The pair is trading around 0.8600, which might be the top, yet some slight appreciation is possible as it the 0.86 level is broken already. We expect that the pair slip towards weekly PP at 0.8445.
Traders' Sentiment
An overwhelming majority (72%) of the traders believe that the New Zealand Dollar is going to lose its bullish momentum. The gap between the bearish and bullish SWFX traders has widened, currently there are only 19% commands to buy.
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