Fundamental Analysis

Fundamental Analysis

NZD/USD: Official Cash Rate
Thu, 10 Aug 2017 07:47:26 GMT
Source: Dukascopy Bank SA

The NZD/USD currency pair showed a dynamic movement after the announcement of the Reserve Bank of New Zealand official cash rate. Following the report, the New Zealand Dollar rose against the Greenback by 12 points to reach the 0.7364 mark. The Central Bank stated that it kept the key interest rate unchanged at 1.75%, in line with forecasts, and would keep its monetary policy accommodative for a substantial period of time. In addition, policymakers noted that the GDP increase fell short of expectations in the Q1, though the future improvement remained in consideration. Moreover, the bank urged that the weaker Kiwi would be needed to support an increase in inflation and contribute to more balanced expansion.

Historical Data Table
Date 08.02.2017 22.03.2017 10.05.2017 21.06.2017 09.08.2017
Actual 1.75% 1.75% 1.75% 1.75% 1.75%
Forecast 1.75% 1.75% 1.75% 1.75% 1.75%
Initial Reaction on Main Pairs
  Open Price Close Price % Change
AUD/NZD 1.07168 1.07195 0.03%
EUR/NZD 1.60127 1.59871 -0.16%
GBP/NZD 1.77234 1.77234 0.00%
NZD/USD 0.73527 0.73646 0.16%

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