NZ Dollar Weakens Ahead Of Central Bank Meetings
September 19 2022 - 12:24AM
RTTF2
The New Zealand dollar fell against its major counterparts in
the Asian session on Monday, as investors awaited meetings of major
central banks amid concerns about aggressive monetary policy
tightening to combat inflation.
The Federal Reserve will announce its interest rate decision on
Wednesday, with investors expecting an another 0.75 percentage
point rate hike.
The Bank of England and the Swiss National Bank will meet on
Thursday and the markets expect rate hikes of 75 basis points and
50 basis points, respectively.
The Bank of Japan is expected to maintain ultra-low interest
rates even as inflation picked up.
Investors fear that aggressive rate hikes by major central banks
could lead to a recession across the globe.
The kiwi dropped to 1.6761 against the euro and 1.1237 against
the aussie, down from its early highs of 1.6701 and 1.1201,
respectively. The next possible support for the kiwi is seen around
against the euro and against the aussie.
The kiwi weakened to 85.26 against the yen and 0.5949 against
the greenback, off an early high of 85.73 and a 4-day high of
0.6002, respectively. The kiwi may locate support around 83.00
against the yen and 0.57 against the greenback.
Looking ahead, Canada industrial product and raw materials price
indexes for August and U.S. NAHB housing market index for September
will be released in the New York session.
AUD vs NZD (FX:AUDNZD)
Forex Chart
From Aug 2024 to Sep 2024
AUD vs NZD (FX:AUDNZD)
Forex Chart
From Sep 2023 to Sep 2024