The NZDUSD pair, often referred to as the “Kiwi,” represents the exchange rate between the New Zealand Dollar and the US Dollar.
The New Zealand Dollar is influenced by various factors, including domestic economic data, commodity prices (especially dairy, as New Zealand is a major exporter), and monetary policy decisions by the Reserve Bank of New Zealand.
New Zealand Interest Rate Decision, Oct 9, 3:00 (GMT+2)The Reserve Bank of New Zealand is predicted to cut interest rates from 5.25% to 5.
0%.
If the CPI meets this forecast, inflation will weaken, potentially reducing the likelihood of additional interest rate hikes by the Federal Reserve.
NZDUSD can be expected to fall further on a breakdown below the support at 0.6200 with targets of 0.
6130 and 0.6050.
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