NZD

Kiwi holds higher after higher-than-expected inflation

• That keeps a more aggressive RBNZ in play

Westpac are forecasting a 75bp Reserve Bank of New Zealand rate hike on November 23

BNZ are now forecasting a 75bp Reserve Bank of New Zealand rate hike on November 23

Forecasts for RBNZ rate hikes are being ramped higher after surging inflation report

NZD/USD up a few ticks after the surging inflation report

NZ Q3 CPI 2.2% q/q (expected 1.6%)

Market Outlook for the Week of October 17-21

• Plenty of data is poised to highlight this week, just not in the US.

New Zealand September services PMI 55.8 (prior 58.6)

NZDUSD closing week with the 2020 low in its sights

• 2020 low at 0.54668

New Zealand September manufacturing PMI 52.0 (prior 54.8)

NZ fin min Robertson says New Zealand needs to diversify trade away from China

New Zealand data - September Food Price Index +0.4% m/m (prior 1.1%)

NZDUSD's 100 hour MA pushes toward the price

• Momentum above the 100 hour MA is limited today

Goldman Sachs revise forecasts for CAD, AUD & NZD lower, but acknowledge risk rally risk

NZDUSD tests topside swing area and 100 hour MA as buyers make a play.

• Swing area between 0.56204 to 0.56274. 100 hour MA at 0.5641.