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NZD/USD finding trend line support, may rise on rate hike

The New Zealand dollar is finding support at the downtrend line that goes back to 2011, it is currently trading around the middle of the trading range for today at 0.858. 96 more words

Finance

NZD/USD finding trendline support, may rise on rate hike

The New Zealand dollar is finding support at the downtrend line that goes back to 2011. Next week the RBNZ is expected to hike rates from 2.75% to 3%, which means NZD may gain some strength as a result and could be why we are not making a lot of progress to the downside. 8 more words

Finance

NZD/USD targeting 0.85, NZD rate decision next week

The New Zealand dollar has fallen as expected.  The combination of a dark cloud cover candle pattern and bearish RSI divergence is following through. Whether or not this pair follows through more and breaks below 0.236 fib support around 0.85 will likely have to wait until next Wednesday when the RBNZ is expected to hike rates.

Finance

Bank Funding Costs

From the BNZ Economy Watch.

In the Post-GFC environment, heightened bank funding costs have driven a wedge between the OCR and borrowing costs. The key contributor has been RBNZ regulation requiring banks to source more secure forms of funding. 62 more words

Financial Markets

NZD outperforms

NZD has been the best performing major currency so far this year outshining other currencies by a wide margin. We expect further NZD/USD appreciation, albeit at a much more gradual pace over the coming months. 105 more words

NZD

Forex: Yen, Kiwi and Swiss Franc Gains

Safe-haven currencies the Swiss franc and yen were in favor early in Asia on Thursday, consolidating their overnight gains as worries about the health of the Chinese economy took a toll on risk appetite. 71 more words

Currency

Notes From Underground: The Reserve Bank of New Zealand Stands Alone

This afternoon the little bank from down under announced it was raising its overnight cash rate (OCR) by 25 basis points to 2.75%. There is no question that the New Zealand economy has been growing (as has private credit for housing) but the… 892 more words

Gold