Comments from RBNZ governor
RBNZ Governor Wheeler is speaking with the topic "Some thoughts on the balance of risks around the Reserve Bank's monetary policy setting"
- RBNZ comfortable with economic projections
- One risk is NZD remains higher than projected
- Greatest domestic uncertainty is housing
- Risks in global economy on the downside
- Risks around inflation look balanced
- Too early to say house price moderation will continue
Here are the highlight of his speech. CLICK HERE
Here is the full text from the speech. CLICK HERE
The NZDUSD was the weakest currency entering the NY session but has seen the price rebound. We are trading at new NY session highs and are testing the 50% of the move down from yesterday's high (at 0.71679).
Earlier today, the price fell below the 200 and 100 day MAs for the first time since Jan 20th. That move should have solicited more selling (and the price tried to stay below those MA lines) but we have seen a move back above over the last few hours of trading. Wheelers comments
