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Marginally Pressured, RBNZ Due In 15 Mins

NZD

NZD/USD prints at $0.6310/15, ~0.1% softer in todays trading.

  • The pair is marginally pressured this morning, US Treasury Yields have ticked higher and NZ Yields tick lower as the RBNZ rate decision comes into view.
  • Both Westpac, now NZ$8.30/KG, and BNZ, now NZ$8.20/KG, have lowered their Fonterra Milk Price forecast for 2022-23.
  • Bulls target a break of the high from Feb 14 at $0.6390. Bears first look to break the 20-Day EMA ($0.6241) to turn the tide.
  • The RBNZ monetary policy decision will cross at the top of the hour. The bank is expected to raise the OCR 25bps to 5.00%.

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