NZD/USD FORECAST AND NEWS
NZD/USD drops to near 0.6000 after the release of the softer Kiwi data
NZD/USD continues to lose ground for the second session, trading around 0.6000 during the Asian session on Monday. The New Zealand Dollar depreciated following the release of the 2-year RBNZ Inflation Expectations for the second quarter, which fell to 2.33% from the previous quarter's 2.50%.
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EUR/USD holds steady above 1.0750 ahead of Fedspeak
EUR/USD fluctuates in a relatively tight channel above 1.0750 to start the new week. In the absence of high-tier data releases, investors will scrutinize comments from central bank officials. Later in the week, inflation data from the US could trigger a big reaction.
GBP/USD hovers above 1.2500, focus on UK labor data
GBP/USD struggles to gain traction and fluctuates slightly above 1.2500 in the European session on Monday. Ahead of Tuesday's labor market data from the UK and April inflation report from the US on Wednesday, investors will keep a close eye speeches from central bankers.
USD/JPY trades on a positive note above 155.80 on Fed’s hawkish comments
The USD/JPY pair trades on a stronger note near 155.85 during the Asian trading hours on Monday. The hawkish stance from the US Federal Reserve has provided some support to the Greenback in recent sessions.
Gold price trades on a negative note, eyes on Fedspeak
Gold price trades on a negative note on Monday during the Asian session. The hawkish remarks from the Fed and growing speculation that the Fed might delay its easing plans have boosted the Greenback and dragged the USD-denominated gold lower.
WTI edges lower to near $77.50 due to uncertainties surrounding Oil demand
WTI Oil price extended losses as Fed officials indicated higher interest rates for longer, which could dampen Oil demand. The crude Oil prices received pressure as China’s PPI marked the 19th consecutive month of deflation. Iraq's Oil minister Hayan Abdul Ghani committed to the voluntary Oil production cuts agreed upon by the OPEC.
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Influential Institutions & People for the NZD/USD
The Reserve Bank of New Zealand (RBNZ)
The Reserve Bank of New Zealand is New Zealand's central bank. Like most central banks, the Reserve Bank is primarily a policy organisation, and exists to do three main things: formulate and implement monetary policy to maintain price stability, promote the maintenance of a sound and efficient financial system and meet the currency needs of the public.
The official website, on Twitter and YouTube
On the other
FED Official Website, on Twitter and Facebook
Adrian Orr
Governor of the Reserve Bank of New Zealand since March 2018. He is New Zealand born and bred, married to a novelist and they have 3 adult children. Adrian is a 1983 undergraduate of the University of Waikato (New Zealand) and a 1985 Masters graduate (with Distinction) from the University of Leicester (England). Following his Masters, Adrian remained in the United Kingdom for three years working as a Research Associate and tutor at the City University Business School, in London. Adrian returned to New Zealand in 1988 to take up the position of Research Economist at the New Zealand Institute of Economic Research before joining the Economics team at the National Bank of New Zealand the following year. In 1992 Adrian moved to France to work as an economist at the Organisation for Economic Cooperation and Development (OECD). After holding this role for three years, Adrian returned to New Zealand and worked for a short time as a Chief Analyst at The Treasury, before returning to the National Bank as Chief Economist. Adrian was appointed Chief Manager of the economics team at the Reserve Bank of New Zealand in 1997, providing core economic and policy advice to the Governor.
Jerome Powell
Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028. Prior to his appointment to the Board, Mr. Powell was a visiting scholar at the Bipartisan Policy Center in Washington, D.C., where he focused on federal and state fiscal issues. From 1997 through 2005, Mr. Powell was a partner at The Carlyle Group. Mr. Powell served as an Assistant Secretary and as Undersecretary of the Treasury under President George H.W. Bush, with responsibility for policy on financial institutions, the Treasury debt market, and related areas. Prior to joining the Administration, he worked as a lawyer and investment banker in New York City. Mr. Powell was born in February 1953 in Washington, D.C.