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The Kiwi strengthened against the US Dollar after the Reserve Bank of New Zealand boosted its inflation expectations. The NZD/USD currency pair climbed 0.39% or 29 base points to the 0.7304 mark to continue gradual increase.
The RBNZ quarterly expectations survey showed annual inflation is likely to reveal average 2.11% growth pace in the next two years, following 2.02% in the prior survey. The report added to expectations that the Central Bank would keep the key interest rate at the record-low of 1.75% for longer before hiking in 2019. Meanwhile, the Bank's one-year inflation preformed a slightly softer 1.86%, compared with 1.87% in the fourth quarter.
| Historical Data Table: NZ Inflation Expectations q/q | Economic Calendar for 14.02.2018 | ||||||||
| Date | 07.02.2017 | 05.05.2017 | 07.08.2017 | 06.11.2017 | 14.02.2018 | 1:30 PM | US CPI m/m | ||
| Actual | 1.90% | 2.20% | 2.10% | 2.00% | 2.10% | 1:30 PM | US Retail Sales m/m | ||
| Forecast | - | - | - | - | - | 3:30 PM | Crude Oil Inventories | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/NZD | 1.08037 | 1.07633 | -0.37% | AUD/NZD | 49.95% | 50.05% | |||
| EUR/NZD | 1.69847 | 1.69238 | -0.36% | EUR/NZD | 25.29% | 74.71% | |||
| GBP/NZD | 1.90904 | 1.90203 | -0.37% | GBP/NZD | 68.58% | 31.42% | |||
| NZD/USD | 0.72755 | 0.7304 | 0.39% | NZD/USD | 38.96% | 61.04% | |||