NZD

New Zealand PPIs Q4 2022 lower than the previous quarter - reduced inflationary pressure

Reserve Bank of New Zealand rate decision on Wednesday. What levels are in play for NZDUSD

• RBNZ rate decision at 8 PM ET/0100 GMT tomorrow

NZ finmin Robertson says RBNZ has a responsibility to address inflation

• NZ finance minister Robertson says RBNZ has a responsibility to address inflation, needs to look through current events

NZD/USD on the brink as upside rush looks to fall apart

• The pair is testing the January lows with key support levels in focus

NZ finmin Robertson says there is evidence that inflation has peaked

NZDUSD moves back below the midpoint of the 2022 trading range

• 50% midpoint comes in at 0.62719

NZD/USD Technical Analysis

• A major double top may signal a trend reversal in NZD/USD.

RBNZ inflation expectations (2 yr) dribble lower, NZD/USD too

New Zealand data - January Food Price Index +1.7% m/m (prior +1.1%)

Both the NZDUSD and the AUDUSD stall at the 200 hour MA today

• That MA will need to be broken

NZDUSD reaches toward 200 hour MA and stalls

• 200 hour MA at 0.6364

New Zealand data - January Services PMI rose 2.5 points to 54.5

New Zealand January Electronic Retail Card Spending +2.6% m/m (expected +1.9%)

New Zealand manufacturing PMI for January 50.8 (prior 47.2)

NZD/USD Technical Analysis

• A possible double top in the NZD/USD has formed.