NZD/USD Climbs Above the 100 SMA, As the RBNZ Revises Inflation Expectations Higher
The RBNZ revises inflation forecasts higher, which is helping the NZD remain bullish
Skerdian Meta•Tuesday, February 9, 2021•1 min read
NZD/USD was one of the most bullish pairs in 2020, moving above 0.73 by the beginning of January. It retreated lower in the second week, but the retreat was small and the price has been bouncing in a range since then, not far away from the top, while other pairs have been retreating since then.
Last night we saw a bullish move after the revised inflation expectations from the Reserve Bank of New Zealand. So, NZD/USD still remains bullish, more so than other major pairs.
New Zealand Monetary Conditions Survey from RBNZ
- Q1 2021 inflation expectations for 2 years 1.89% vs 1.59% prior
- Q4 2020 inflation expectations was 1.59%
- 1 year inflation expectations 1.73% 1.23% prior
- Full report
People can see prices rising and commodities are about to hit the easiest year-over-year comps ever. The kiwi is a touch stronger on this.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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