Forex: NZD/USD spikes to the upside after RBNZ

FXstreet.com (Barcelona) - NZD/USD is last at 0.8451, off recent double weekly high at 0.8462, after it has spiked to the upside following RBNZ rate statement, released just minutes ago. The pair is slightly in the positive for the week, bouncing from yesterday's weekly low at 0.8360.

The NZ central bank is expecting to keep rates unchanged for 2013, with inflation expectations to start building up next year to 2%. According to RBNZ governor, the NZD remains overvalued, the statement said. “No surprises in the decision or in his comments,” notes ForexLive editor Eamonn Sheridan.

Immediate resistance to the upside for NZD/USD shows at recent session and Monday's high 0.8462, followed by Friday's highs at 0.8491, and April 17 highs at 0.8509. To the downside, closest support lies at Monday's lows 0.8395, followed by yesterday's 3-week lows at 0.8360, and Feb 07 lows at 0.8289.

Apr 24, 2013

RBNZ expects to keep rates unchanged throughout 2013

The RBNZ policy decision is out, with the interest rate kept unchanged at 2.5%, in line with unanimous economist's forecast of a 2.50% no change. On the official statement, the Reserve Bank Governor Graeme Wheeler said: “The outlook for monetary policy remains consistent with that described in the March Monetary Policy Statement."

Forex: AUD/NZD sharply lower after RBNZ holds rates at 2.50%

The AUD/NZD is down 36 pips at 1.2156. Initially the pair was trading around 1.2220 before plunging after the releases of RBNZ interest rate decision. Aussie CPI will also be released later in the session at 1:30 GMT.