NZD traders heads up - RBNZ inflation expectations data due Monday, 8 August 2022

The Reserve Bank of New Zealand inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term expectations survey can be an NZD NZD The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a Read this Term mover.

• Date due at 0300 GMT

2-year ahead inflation expectations hit an over 30-year high at the previous release. As did 1-year out. Graph below is via the Bank.

Via Westpac:

inflation expectations for Q3 is not expected to rise materially but it will likely remain at an elevated level

As I posted earlier:

• Above expectations will feed into the NZD as a bullish factor at the margin (and vice versa). The RBNZ is in a rate hike cycle due to higher than target CPI. The next RBNZ rate hike is due August 17 (NZ time).

Levels of (short-term) note for NZD/USD I have an eye on are:

• just above 0.6210 (Friday's low)
• circa 0.6250 then just above 0.6280

A quick glance at a short-term chart will show these are interesting areas. There is a bit of a 'gap' (my perception of gaps is not quite text book) 0.6250 -0.6285 that I reckon will be attractive.