At this point, those who trade the New Zeeland Dollar are focused on whether the RBNZ is going to increase interest rates in the near future during another meeting. At the same time, 13 economists interviewed by The Wall Street Journal assume that the central bank is set to leave the benchmark interest rate unchanged at 2.5%.
Other preliminary surveys show that experts anticipate no change until March 2014. According to Daniel Smith, an economist from ABS, such expectations are supported by higher housing prices and strong inflation pressure. At the same time, there are some secondary external factors that may influence the RBNZ's interest rate decision.
Forex
According to Masterforex-V Academy, the New Zealand Dollar keeps weakening against the US Dollar. The experts report that NZDUSD is forming a downswing represented by А/В of level Daily
A further downswing below 0.8122 will probably give way to 0.8133, 0.8085. The current bearish move will be completed as soon as the price overcomes 0.8542. In this case, the closest major levels of resistance will be found around 0.8584 and 0.8674.
