NZD

ANZ expect the first Reserve Bank of New Zealand rate cut in February 2025 (prior May '25)

• RBNZ forecast from ANZ NZ

The NZDUSD extends to key ceiling target today and finds sellers

• The 61.8% retracement of the trading range since December at 0.61706 is support now

New Zealand data: ANZ Commodity Price Index for May +1.1% m/m (prior 0.5%)

• A summary of the price trends for New Zealand’s 17 main commodity exports.

NZD/USD hits a 3 month high, USD broadly lower in Asia morning trade

New Zealand data: Q1 Terms of trade +5.1% q/q (expected +3.1%)

• Learn how this can impact the economy.

NZDUSD Technical Analysis – Is this a pullback or a reversal?

• The NZDUSD pulled back after reaching a new high following the soft US ISM Manufacturing PMI. What’s next?

NZDUSD Technical Analysis – The price action remains confined in a range

• The NZDUSD continues to consolidate as traders wait for a breakout. What’s next?

NZDUSD rebounds w/the US selling after floor area & 100-bar MA holds support at the lows

• The price of the NZDUSD is trading between the 200-hour MA at 0.6118 and 100-hour MA at 0.6132.

New Zealand budget - Treasury forecasts inflation below 3% in Q3 2024

• The New Zealand deficit has widened

Goldman Sachs on the New Zealand budget due today - could impact AUD/NZD dynamics

• GS expect AUD to slide further vs. NZD,

New Zealand Building Permits April: -1.9% m/m (prior -0.2%)

• New Zealand Building Consents for April 2024

New Zealand May business confidence 11.2% (prior 14.9%)

• ANZ New Zealand Business Survey for May 2024

NZDUSD stalls just ahead of the 61.8% retracement level

• The 61.8% of the move down from the December high comes in at 0.61706. The high today reached 0.6169.

NZDUSD Technical Analysis

• The NZDUSD broke out of the range triggering a more sustained rally. What’s next?

RBNZ implement new limits on lending - restricts high debt to income loans

• Eases back LVRs too