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Little Changed, Inflation Expectations On Tap

NZD

NZD/USD prints at $0.6355/60, little changed from yesterdays closing levels.

  • The pair was moderately firmer , however moves have been limited and resistance was seen ahead of the 20-day EMA.
  • AUD/NZD is ~0.1% softer, the next downside support is at 20-day EMA at $1.0923.
  • Jan Food Prices rose 1.7%, adding to the inflationary pressures in the economy.
  • The latest REINZ House Price Index saw the fall in valuations extend as RBNZ tightening weighs.
  • On the wires shortly, Q1 RBNZ Survey of Inflation Expectations is released. The 2022 Q4 print saw the 1-year metric above 5%, whilst the 2-year print was at a fresh cycle high at 3.62% above the RBNZs inflation target band.

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