NZ Dollar Slides As Rate Hopes Rise On Falling Inflation Expectations
11 Noviembre 2019 - 8:34PM
RTTF2
The New Zealand dollar declined against its major counterparts
in the Asian session on Tuesday, as a fall in NZ inflation
expectations raised hopes for a rate cut by the Reserve Bank of New
Zealand.
Data from Reserve Bank of New Zealand showed that New Zealand
inflation expectation for two year ahead slowed in the fourth
quarter.
The inflation expectation for the next two years slowed
marginally to 1.80 percent in fourth quarter from 1.86 percent rise
in the previous quarter.
The latest inflation expectation was the lowest since fourth
quarter in 2016, when it was 1.68 percent.
Inflation expectations for one year ahead fell to 1.66 percent
in fourth quarter from 1.71 percent in the preceding quarter.
The kiwi declined to 1.0820 against the aussie, from a weekly
high of 1.0756 hit at 7:15 pm ET. The kiwi is poised to find
support around the 1.10 area.
The kiwi weakened to a 4-day low of 0.6325 against the greenback
from Monday's closing value of 0.6359. The next possible support
for the kiwi is seen around the 0.62 level.
The NZ currency depreciated to a 4-day low of 69.04 against the
yen, from a 4-day high of 69.50 seen at 7:45 pm ET. If the kiwi
slides further, it may find support around the 66.00 level.
The kiwi slipped to a 4-day low of 1.7438 against the euro from
yesterday's closing value of 1.7341. The kiwi is seen finding
support around the 1.775 level.
Looking ahead, U.K.claimant count rate for October, ILO jobless
rate for the three months ended September and German ZEW economic
sentiment index for November are due in the European session.
At 5:30 am ET, Federal Reserve Governor Richard Clarida will
give a speech titled "Monetary Policy, Price Stability, and Bond
Yields" at a conference co-sponsored by the Bank for International
Settlements, Federal Reserve, and the Swiss National Bank, in
Switzerland.
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