RBNZ prepare to scrum down for next play

RBNZ prepare to scrum down for next play

The RBNZ is in 'wait and see' mode as they wait for the impact of their last 50bps rate cut. So, the bearish mode remains, but there will need to be another sentiment shift to bring about new sellers.

Shift change to watch

ANZ

The shift to watch out for is further negative data prints or negative comments from the bank's board. Alternatively, to see NZD attract buyers, we would need to see some positive data prints and/or bullish comments from the bank's board

Key events for the NZD ahead are:

  • New Zealand Rate decision and statement, Wednesday 25 September 0300BST
  • ANZ business confidence, Monday September 30 0200BST
  • NZIER business confidence, Monday September 30 2200BST
  • CPI data, Monday October 14, 2245BST