NZD/USD: Turns lower under 200-DMA – BBH
Source Fxstreet
Jul 2, 2024 10:34
NZD/USD edged lower under its 200-day moving average (0.6071), BBH analysts note.
35% of firms expect a deterioration in the economic outlook
“The NZ Institute of Economic Research (NZIER) Survey of Business Opinion (QSBO) declined in Q2 and points to a continued slowing in the New Zealand economy over the coming year.”
“A net 35% of firms expect a deterioration in the general economic outlook over the coming months on a seasonally adjusted basis vs. 25% in Q1. This reinforces the case for the RBNZ to start easing earlier than they project which can further weigh on NZD. The RBNZ has a first policy rate cut penciled-in for Q3 2025.”
“In contrast, the swaps market has a November cut more than fully priced in.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.
The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.
The Japanese Yen (JPY) rallied to the highest level since early February against its American counterpart on Friday amid bets for an imminent shift in the Bank of Japan's (BoJ) policy stance.
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Tesla (NASDAQ:TSLA) on Tuesday reported its vehicle deliveries for the second quarter, showing a smaller-than-expected decline as aggressive price cuts and incentives helped boost sluggish demand.
