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25 Jan 2016
RBNZ to hold after 100 bps cuts in 2015 - UOB
FXStreet (Guatemala) - Analysts at UOB Group explained that the RBNZ will be releasing its next policy statement on Thursday. We are not expecting any policy change from the New Zealand central bank at the January meeting.
Key Quotes:
"After 100bp of cuts in 2015, the last of which arrived in December, we expect that the central bank will want to pause and judge the effects for some time. On the same day, we will be receiving December trade data.
"Similar to AUD/USD, the current NZD movement is viewed as a corrective rebound which has scope to extend higher to 0.6630. Strong support is at 0.6410 followed by the recent low near 0.6345/50."
Key Quotes:
"After 100bp of cuts in 2015, the last of which arrived in December, we expect that the central bank will want to pause and judge the effects for some time. On the same day, we will be receiving December trade data.
"Similar to AUD/USD, the current NZD movement is viewed as a corrective rebound which has scope to extend higher to 0.6630. Strong support is at 0.6410 followed by the recent low near 0.6345/50."