March 13, 2013
NZ RBNZ Interest Rates
RBNZ Interest Rates decision will be another high impact release for the Kiwi, especially after
the recent hawkish comments from Wheeler on potential intervention due to NZD’s excessive
strength… RBNZ (Reserve Bank of New Zealand) will be releasing the decision today and it is
widely expected that Governor Wheeler of RBNZ will announce No rate changes, but then of
course no rate change is needed to move the NZD if Wheeler were to take a hawkish or dovish
stance with the accompanied statement, so I’d recommend traders to pay close attention to
the comments immediately after the rate decision.
4:00pm (NY Time) RBNZ Interest Rates Decision Forecast
2.50% Previous 2.50%
DEVIATION: 0.25% (BUY NZD 2.75% / SELL NZD 2.25% )
Definition:
The OCR (Official Cash Rate or RBNZ Interest Rates) influences the price of borrowing money
in New Zealand and provides the Reserve Bank with a means of influencing the level of
economic activity and inflation. An OCR is a fairly conventional tool by international standards.
The Trade Plan
Current forecast from economists surveyed by Bloomberg agree that RBNZ is likely to leave
the official rate at 2.5% during this meeting; however, in the unlikely event that Governor
Wheeler surprises the market and hike/cut rates by 0.25%, we should see an immediate strong
volatility in the NZD which is a great opportunity to spike trade NZD.
Recommended Pairs : NZDUSD, NZDCHF
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