23 Jul 2014
NZD/USD consolidates ahead of RBNZ
FXStreet (Córdoba) - The NZD/USD is trading slightly higher on Wednesday ahead of the decision by the Reserve Bank of New Zealand (RBNZ). Currently trades at 0.8686, up 0.24% for the day. Despite trading up for the day, the NZD/USD still remains near July lows that lie at 0.8645/50.
During the Asian session the pair bottomed at 0.8656. Then rebounded but the rally was capped by the 0.8690 area. After Wall Street opening bell turned again to the downside but found support at 0.8670.
NZD/USD waiting for key event
At 21:00 GMT the RBNZ will announced its decision on monetary policy, a 25 bps rate hike is expected. The event will likely increase volatility in the NZD crosses. The decision and the statement will be watched closely by traders.
During the Asian session the pair bottomed at 0.8656. Then rebounded but the rally was capped by the 0.8690 area. After Wall Street opening bell turned again to the downside but found support at 0.8670.
NZD/USD waiting for key event
At 21:00 GMT the RBNZ will announced its decision on monetary policy, a 25 bps rate hike is expected. The event will likely increase volatility in the NZD crosses. The decision and the statement will be watched closely by traders.