Tag Archives: NZD/JPY

Revisionists

While most people are busily winding down for the festive break New Zealand’s economic reports wind up to a lather this week.

Global oil prices have plunged to a five-year low.

The NZD popped more than 100pts higher after the RBNZ MPS,

The NZD has strengthened along with all of its peers, relative to a weak USD overnight.

Near term momentum is negative and we expect a test of 0.7660 major support.

In a few short months, crude oil prices have fallen to levels not seen since 2009.

The RBNZ is set to contend with still-robust activity data but

The past two weeks have seen NZD/USD rangebound with a slight downward drift.

The New Zealand economy is carrying a substantial degree of momentum into year-end,

Last week’s interest rate cut in China raised speculation that the Chinese Yuan’s appreciation might be curtailed.

We might have to revise down our GDP growth forecasts for calendar 2014, even 2015 (because of the new historical base presented),

With the economy continuing to grow at a solid pace, the RBNZ will still be thinking about the need to eventually hike rates.