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We expect the RBNZ will leave the OCR at 5.5% at the August Monetary Policy Statement. We expect a significant revision in the forward view for the OCR consistent with potential easing in October and November, leaving the year end OCR at 5%. We also expect significant downward revisions to the 2025 and 2026 OCR […]

The post Preview of RBNZ: Nearing the Finish Line – But Not Quite There Yet appeared first on Action Forex.

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12/06/2024

NZDCAD Wave Analysis

NZDCAD reversed from support level 0.8400 Likely to rise to resistance 0.8500 NZDCAD currency pair recently reversed up with the daily Piercing Line from the support level 0.8400 (former strong resistance from November, December and May). The support level 0.8400 was strengthened by the nearby 20-day moving average and by the 50% Fibonacci correction of […]
19/12/2023

Canada: Cloudy Signals on Inflation in November Have a Sliver Lining

Canadians aren’t getting much relief on inflation for Christmas this year, with CPI inflation remaining at 3.1% on a year-on-year (y/y) basis in November. For headline inflation, Statistics Canada cited that higher prices for travel tours (+26.1% y/y,) due to events held in destination cities in the U.S. (potentially due to Formula 1 in Vegas) […]
06/03/2024

Dollar Index in Limited Range Ahead of Key Economic Events

The dollar index holds in red but within a narrow range in early Wednesday, as traders reduce speed ahead of today’s key events, US labor data and the speech of Fed Chair Powell. Weaker than expected US services PMI in February, released on Tuesday, added to negative sentiment, though dips were again contained by 200DMA […]