NZDUSD pair is under pressure

NZD / USD: the pair is under pressure


Zealand is the largest exporter of dairy products on the world market,
primarily in China. On Wednesday, the largest dairy company in New Zealand
Fonterra reported an increase in net profit, which was in the past
half NZ $ 409 million as compared to 183 million NZ
dollars in the previous period. However, the news did not help New Zealand
dollar. The pair NZD / USD after a slight increase at the beginning of the Asian session
It continued to fall.

held last week, the dairy auction index for dairy products prices
It decreased by 2.9%.

Two weeks
RB ago New Zealand had already lowered the interest rate by 0.25% to 2.25%, which
It led to a sharp drop in the New Zealand dollar on the entire financial market.

fear of further deterioration in the global economic outlook and decline
inflation expectations in most of New Zealand.

Fed to maintain its key interest rate unchanged at 0.5% and
downgrade on future rate hikes have mostly
It worked out by the market.

that the President of the Philadelphia Fed, Patrick Harker said Tuesday that the positive
prospects for the US economy speak in favor of the next increase of short-term
interest rates. Moreover, the rate hike is possible in any of the Fed meeting,
not excluding April. Harker himself in favor of raising rates more than twice in the US this year.

The president
Federal Reserve Bank of St. Louis Dzheyms Bullard in an interview with Bloomberg Television, said yesterday that
it is likely the April rise in interest rates in the United States if
economic data will continue to match the Fed’s forecasts and
there will be no surprises.

, the different directions of the monetary policies of central banks and the US
New Zealand once again come to the forefront in assessing the prospects of couples
NZD / USD. It is expected that the key interest rate in New Zealand is
reduced to 1.75% from its current level of 2.25%, and in the course of meetings
RBNZ in June and August.

In this regard,
This pressure on the pair NZD / USD will continue to grow in the short and medium
term for fixing prices below the level of 0.6695, which passes through
144-period moving average on the daily chart.

NZDUSD pair is under pressure


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