New Zealand dollar traders – Reserve Bank of New Zealand announcement due at 2100GMT

The Reserve Bank of New Zealand Monetary Policy Statement decision is due at 2100GMT, with governor Wheeler speaking also.

Expect;

• No change to the Official Cash Rate, it will remain on hold at this meeting
• Comments should indicate that the tightening cycle is still ongoing but on pause at this meeting
• Comments should indicate that the New Zealand dollar is still too high given commodity prices / terms of trade

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Greg’s preview here: Technical Analysis: A Preview of the RBNZ Decision and Technical Levels