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Monday, 30 May 20:05 (GMT -05:00)



Foreign exchange market

RBNZ Expects NZ Dollar Strengthening


 

 

The demand for liquid high-yield currencies is growing. This seems to be supporting the New Zealand Dollar. According to the experts working for Western Union Business Solutions, the current weakening of the Japanese Yen makes investors turn to riskier assets.
 

 

 

 

 

 

The NZ Dollar is also supported by stronger stats from the local housing market and officials’ statements that higher housing prices may lead to interest rate hikes.
 
Still most analysts do not believe that the RBNZ is going to hike interest rates until late 2013.  Still, higher housing price may eventually provoke tougher monetary policies.
 
Forex.
 
According to Masterforex-V Academy, the New Zealand Dollar is retracing against the US Dollar. The experts report that NZDUSD is still forming a big-scale upswing represented by wave А/В of level Weekly.
 
A further rally (above 0.8674) will probably encounter resistance around 0.8788 and 0.8841. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 0.8674 (as shown below).

 

 

 

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