The weekly wobbles continue for this one
- Up a little this week
- 4 week MA of it around 102.9, basically unchanged from last week
Data was out a few minutes ago but it does not tend to be too much of an immediate forex mover
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Australia - weekly ANZ Roy Morgan survey of consumer confidence: 121.5 (prior 120.5)
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NZIER's Monetary Policy Shadow Board narrowly favours holding the OCR at 2.25% in July, but calls it a line-ball decision against a 25bp hike, with members still agreeing rates should reach 3 to 3.25% within a year.
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ANZ expects the RBNZ to raise the OCR 25bp to 2.50% next Wednesday despite the sharp fall in oil prices, arguing a neutral-to-dovish hike offers the most comfortable footing given persistent inflation risk and a softer NZD.
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