All Eyes On RBNZ

NZD/USD rose for the fourth straight day on Tuesday, having a brief look above the prior intraday high to print best levels since Apr 2018. The rate was slightly heavy in Asia-Pac hours, but recovered later in the day, with focus on comments from Fed Chair Powell who noted that "the economy is a long way from our employment and inflation goals."

• The RBNZ are set to deliver their monetary policy decision today. Please see the earlier RBNZ bullet to access our preview.
• RBNZ Gov Orr will hold a presser an hour after the decision announcement. He will also speak in parliament tomorrow and at Canterbury Chamber on Friday.
• On the data front, final ANZ Business confidence hits the wires on Thursday, with trade balance & ANZ Consumer Confidence coming up on Friday.
• Elsewhere, NZ Director-General of Health Bloomsfield warned that the UK strain of the coronavirus may cause atypical symptoms, including muscle aches and fatigue.
• Just to recap, New Zealand found three new cases of Covid-19 in the community on Tuesday, but Bloomsfield said that there is no need to raise Covid alert levels now.
• NZD/USD last trades at $0.7335, just shy of neutral levels. Bears need a slide through the 50-DMA at $0.7193 to sigh with relief. On the topside, initial focus falls on Apr 13, 2018 high of $0.7395, followed by Feb 16, 2018 high of $0.7437.