Reiterates view after RBNZ meeting
Speaking at parlieaments finance and expentiture select committee, RBNZ Adrian Orr said:
- risks around interest rate outlook is balanced
- forecasting near 0 increase in real house prices
- reflects less growth in house prices
- household spending may be more circumspect, but still positive
The NZDUSD rose sharply yesterday after the RBNZ kept rates unchanged through 2020, disppointing those betting on a near term reduction. Nevertheless, the central bank did say that risks are balanced. The rise may have also been helped by more bullish technicals from the short covering.
The price of the NZDUSD is moving back down and trades at NY session lows. The price is back below its 200 hour MA at 0.6808 and looks toward the 50% of the day's sharp run higher at 0.67874.
