NZDUSD is sitting at key value area
USD strength pressuring the pair for now
The RBNZ see the official cash rate at 0.94% in March 2022 (vs 0.86% previously, 2.14% in December 2022(1.62%), and 2.30% in March 2023 (previously 1.77%). That's the positive news. They see their TWI moving higher, employment improving, GDP rising and have brought forward the 2.1% rate from 2024 to 2023 and added 50bps on top to make it 2.6%. Left hand side below is the previous RBNZ projections. Right hand side is the projections from this week. Big shift!
Can't see this NZD weakness continuing and NZDJPY looks very good value too. The 'no-brainer' play would be if we see the Fed pushing back on faster taper expectations. That would open up a great NZDUSD buy.