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Jan 31 - 10:55 PM

NZD/USD - Edges Lower On Expectations Of Less Hawkish RBNZ

By Krishna K  —  Jan 31 - 09:55 PM
  • NZD/USD down 0.3% as traders ponder on signs of softening in labour market

  • New Zealand Q4 jobless rate edges up to 3.4%, above forecasts of 3.3%

  • Data raises expectations that RBNZ will be less aggressive on rate hikes

  • Follows last week's data showing inflation undershooting RBNZ forecasts

  • ASB Bank, BNZ now expect RBNZ to hike rates by 50 bps in Feb rather than 75

  • Fed rate decision Wed, bets on a far less hawkish Fed risk disappointment

  • Support 0.6400-10, 0.6360-65, resistance 0.6480, 0.6530

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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