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24 Feb 2015
NZD/USD drops sharply on RBNZ's low inflation expectations
FXStreet (Guatemala) - NZD/USD is currently offered on New Zealand RBNZ's 2-Year Inflation Expectation (Q1) reading just +1.80% compared to previous +2.06%. The Kiwi is trading at 0.7503 from circa 0.7529 on the releases.
The Bird could be hurt on this data and this may have planted the seed for lower still, especially if Yellen gives a bullish and hawkish rhetoric in her testimony tomorrow. These Inflation expectations of the RBNZ fall in line, if not some what lower, with Wheelers most recent speech and commentary around the outlook for the economy with a neutral tone portrayed.
This data may well be leaving the door wide open for a rate cut this year if things do not improve so ears will be closely to the ground and we will be peering into the boardrooms of the RBNZ to listen out for a more dovish tone. At time of writing, the handle holds still.
The Bird could be hurt on this data and this may have planted the seed for lower still, especially if Yellen gives a bullish and hawkish rhetoric in her testimony tomorrow. These Inflation expectations of the RBNZ fall in line, if not some what lower, with Wheelers most recent speech and commentary around the outlook for the economy with a neutral tone portrayed.
This data may well be leaving the door wide open for a rate cut this year if things do not improve so ears will be closely to the ground and we will be peering into the boardrooms of the RBNZ to listen out for a more dovish tone. At time of writing, the handle holds still.