RBNZ chief economist Conway:

  • The decline in construction is critical to the inflation outlook
  • the significant slowdown in home construction is on the way. It will get tougher for building sector

The NZDUSD is trading to new session highs and looks toward the 50% midpoint of the 2022 trading range and 0.62719. Above that level is the falling 200 day moving average at 0.6302. The last time the price traded above the 200 day moving average was back on April 7.

NZDUSD moves toward 50% midpoint