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RBNZ To Publish Capital Review Consultation Material In November

KIWI

NZD/USD pushed higher Wednesday as hopes for a fiscal deal being clinched on the Hill supported risk appetite, despite continued resistance from Senate Democrats. The rate rallied to its best levels in a week, but fell short of testing the key Oct 14 high of $0.6682.

  • New Zealand's weekly paid job number fell by 10,680 in the week through Sep 13, per Stats NZ's experimental data series.
  • The RBNZ said that it will publish "detailed consultation material covering the Capital Review implementation in November". As a reminder, the implementation of the new capital framework has been delayed amidst challenges related to the coronavirus crisis.
  • With the rate trading +3 pips at $0.6656, a clearance of Oct 14 high of $0.6682 would bring Sep 18 high of $0.6798 into play. On the flip side, a retreat under Oct 20/8 lows of $0.6553/47 would allow bears to take aim at $0.6512, the low of Sep 24.
  • New Zealand's quarterly CPI data is due tomorrow.
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