NZD could not hold out. Overview for 21.05.2024


The New Zealand dollar, paired with the US dollar, is retreating. The current NZDUSD exchange rate stands at 0.6099.

The NZD is declining due to technical reasons – the Kiwi dollar looks overbought – and ahead of the Reserve Bank of New Zealand meeting scheduled for Wednesday.

The regulator is expected to keep the interest rate unchanged at 5.5% per annum for the seventh consecutive time. Investors will focus on the comments. The market will look for indications of a potential premature interest rate reduction, that is, earlier than in the mid-2025 timing stated in official documents.

Last week’s statistics confirmed a reduction in two-year inflation expectations to a three-year low in Q2, intensifying market expectations that the RBNZ might consider the possibility of monetary policy easing later this year.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.