Get 40% Off
🎁 Free Gift Friday: Copy Legendary Investors' Portfolios in One ClickCopy for Free

Forex - NZD/USD slips lower ahead of RBNZ rate decision

Published 12/09/2015, 02:27 AM
Kiwi edges lower vs. greenback as markets eyed RBNZ rate statement

Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Wednesday, as investors eyed the Reserve Bank of New Zealand's interest rate decision due later in the day and as expectations for a U.S. rate hike continued to support the greenback.

NZD/USD hit 0.6623 during late Asian trade, the session low; the pair subsequently consolidated at 0.6635, down 0.14%.

The pair was likely to find support at 0.6579, the low of December 1 and resistance at 0.6750, Monday's high.

Later Wednesday, the RBNZ was expected to lower its benchmark interest rate by 0.25% from 2.75% to 2.50%.

Market participants were also eyeing the central bank's press conference, due shortly after the interest rate decision, for indications on the RBNZ's future policy moves.

Meanwhile, the greenback remained broadly supported after Friday's strong U.S. employment data fuelled further expectations that the Federal Reserve will hike interest rates for the first time since 2006 at its upcoming meeting on December 15-16.

The kiwi was lower against the Australian dollar, with AUD/NZD rising 0.25% to 1.0884.

Earlier Wednesday, the Australian Bureau of Statistics reported that home loans fell 0.5% in October, compared to expectations for a 1.0% decline, after a 2.0% rise the previous month.

Separately, the Westpac Banking Corporation said consumer sentiment in Australia fell 0.8% this month, after a 3.9% increase in November.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.