The RBNZ will announce their statement at 3 PM ET/9 AM local New Zealand time). The expectations is for no change.

Points of interest:

  • Will the currency remain overvalued
  • Will rates have to rise later

Commodities are lower which suggests that the currency comments will likely remain (despite the lower price from the December meeting – about 200 pips lower). The CPI inflation is also below the 1% target now.

Technically, traders are probing the downside before the decision.

For our full preview: Preview – Reserve Bank of New Zealand policy meeting on 29 January 2015

NZDUSD stays below topside trend line and breaks 100 hour MA before RBNZ.

NZDUSD stays below topside trend line and breaks 100 hour MA before RBNZ.