NZD/USD looks set for a smooth ride above 0.6300 ahead of RBNZ decision – by Sagar_Dua24 NZDUSD Fed RBNZ Inflation Employment
NZD/USD is expected to extend its upside journey above 0.6300 as Fed-RBNZ policy divergence would scrap.Downbeat US ISM Manufacturing PMI has raised concerns about further policy-tightening by the Fed.Kiwi
In a March 27-30 Reuters poll, over 90% of economists said RBNZ Governor Adrian Orr would hike the Official Cash Rate by 25 basis points to 5.00% at its April 5 meeting, the highest since December 2008. Reuters further added New Zealand's economy is expected to have shrunk by 0.3% this quarter, following a 0.6% contraction in the final three months of 2022, indicating a mild recession that is likely to prompt the RBNZ to slow its torrid pace of rate hikes.
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