NZD/USD FORECAST AND NEWS
NZD/USD Price Analysis: Struggles to counter 0.6000
NZD/USD faces selling pressure above 0.6000 as US Dollar recovers. Fed Kashkari doesn’t see interest rate cuts this year. Investors see the RBNZ reducing interest rates from October.
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EUR/USD stuck near midrange ahead of thin Thursday session
EUR/USD is reverting to the near-term mean, stuck near 1.0750 and stuck firmly in the week’s opening trading range. Markets will be on the lookout for speeches from ECB policymakers, but officials are broadly expected to avoid rocking the boat amidst holiday-constrained market flows.
GBP/USD holds below 1.2500 ahead of BoE rate decision
GBP/USD remains on the defensive around 1.2495 on Thursday during the early Asian session. Greenback edges higher for the third consecutive day, which weighs on the major pair. Traders turn to cautious mode ahead of the Bank of England interest rate decision later in the day, with no change in rate expected.
USD/JPY surges to near 155.50 as Fed expects to prolong policy rates
USD/JPY extends winning streak amid hawkish sentiment surrounding the Fed’s stance on monetary policy. Fed's Kashkari anticipates the prolonging of elevated rates and suggests that further rate hikes are not entirely ruled out. The Japanese Yen depreciated despite the potential for intervention by Japanese authorities.
Gold price drops amid higher US yields awaiting next week's US inflation
Gold remained at familiar levels on Wednesday, trading near $2,312 amid rising US Treasury yields and a strong US dollar. Traders await unemployment claims on Thursday, followed by Friday's University of Michigan Consumer Sentiment survey.
Oil posts modest gains around $79.00 on US crude stock draw
Western Texas Intermediate, the US crude oil benchmark, is trading around $78.95 on Thursday. The black gold recovers losses after a surprise crude stock draw in the United States.
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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.