{"id":13225,"date":"2022-08-16T06:23:29","date_gmt":"2022-08-16T06:23:29","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=13225"},"modified":"2022-08-16T06:23:29","modified_gmt":"2022-08-16T06:23:29","slug":"august-rbnz-preview-and-what-next-for-the-nzd-usd","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/","title":{"rendered":"August RBNZ Preview and what next for the NZD\/USD"},"content":{"rendered":"

August RBNZ Preview and what next for the NZD\/USD<\/h1>\n

It is widely expected that the Official Cash Rate will be raised by 50 bp taking the cash rate to 3% in tomorrow\u2019s meeting of Reserve Bank of New Zealand. It will be the RBNZ\u2019s<\/strong><\/a> fourth consecutive 50bp hike in a tightening cycle that started in October.<\/p>\n

RBNZ committed to make sure consumer price increase returns to within 1 to 3 percent target range last month and said that it would continue to increase rates on a speed to maintain price stability.<\/p>\n

Despite a slight increase in the unemployment rate to 3.3% in second quarter of 2022 the labour market remains tight beyond the maximum sustainable level and inflation at 7.3% y\/y is miles above target. The RBNZ will likely revise higher inflation forecasts and reiterate its forecast for a terminal rate of 3.9% by mid-2023.<\/p>\n

The NZDUSD increased 3.4% last week to close above 0.6450 for its best week since June 2020. However, following the latest bout of dour Chinese economic data<\/strong><\/a> released yesterday, the NZD\/USD has given back just under half of those gains to be trading at 0.6358.<\/p>\n

Yesterday\u2019s reversal lower from the 0.6469 high, has thus far held initial support at 0.6350. Below there is a layer of medium support between 0.6300 and 0.6200, which we expect to hold if tested, looking for rotation higher to the June 0.6576 high.<\/p>\n","protected":false},"excerpt":{"rendered":"

August RBNZ Preview and what next for the NZD\/USD It is widely expected that the Official Cash Rate will be raised by 50 bp taking the cash rate to 3% in tomorrow\u2019s meeting of Reserve Bank of New Zealand. It will be the RBNZ\u2019s fourth consecutive 50bp hike in a tightening cycle that started in<\/p>\n... continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[20,265,187,252,24,35,201],"yoast_head":"\r\nAugust RBNZ Preview and what next for the NZD\/USD<\/title>\r\n<meta name=\"description\" content=\"At its meeting tomorrow, the Reserve Bank of New Zealand is widely expected to raise the Official Cash Rate by 50 basis points taking the cash rate to 3%.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"August RBNZ Preview and what next for the NZD\/USD\" \/>\r\n<meta property=\"og:description\" content=\"At its meeting tomorrow, the Reserve Bank of New Zealand is widely expected to raise the Official Cash Rate by 50 basis points taking the cash rate to 3%.\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Xtream markets\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/xtreamforex.official\/\" \/>\r\n<meta property=\"article:published_time\" content=\"2022-08-16T06:23:29+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.xtrememarkets.com\/MU\/wp-content\/uploads\/2023\/07\/link-banner.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"300\" \/>\r\n\t<meta property=\"og:image:height\" content=\"150\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@xtreamforex\" \/>\r\n<meta name=\"twitter:site\" content=\"@xtreamforex\" \/>\r\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":[\"Organization\",\"Place\"],\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/#organization\",\"name\":\"Xtreamforex\",\"url\":\"https:\/\/www.xtrememarkets.com\/MU\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/xtreamforex.official\/\",\"https:\/\/www.instagram.com\/xtreamforex.official\/\",\"https:\/\/in.linkedin.com\/company\/xtream-forex\",\"https:\/\/www.youtube.com\/channel\/UCbbTuJV9XhurjZciRLdvFBg\",\"https:\/\/www.pinterest.com\/xtreamforex_trading\/\",\"https:\/\/twitter.com\/xtreamforex\"],\"logo\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/#local-main-organization-logo\"},\"image\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/#local-main-organization-logo\"},\"openingHoursSpecification\":[{\"@type\":\"OpeningHoursSpecification\",\"dayOfWeek\":[\"Monday\",\"Tuesday\",\"Wednesday\",\"Thursday\",\"Friday\",\"Saturday\",\"Sunday\"],\"opens\":\"09:00\",\"closes\":\"17:00\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/#website\",\"url\":\"https:\/\/www.xtrememarkets.com\/MU\/\",\"name\":\"Xtreamforex\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/www.xtrememarkets.com\/MU\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/#webpage\",\"url\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/\",\"name\":\"August RBNZ Preview and what next for the NZD\/USD\",\"isPartOf\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/#website\"},\"datePublished\":\"2022-08-16T06:23:29+00:00\",\"dateModified\":\"2022-08-16T06:23:29+00:00\",\"description\":\"At its meeting tomorrow, the Reserve Bank of New Zealand is widely expected to raise the Official Cash Rate by 50 basis points taking the cash rate to 3%.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/\",\"url\":\"https:\/\/www.xtrememarkets.com\/MU\/\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"position\":2,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/\",\"url\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/\",\"name\":\"August RBNZ Preview and what next for the NZD\/USD\"}}]},{\"@type\":[\"Article\",\"NewsArticle\"],\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/#webpage\"},\"author\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/#\/schema\/person\/45321100bcede4831a44b3131933cdff\"},\"headline\":\"August RBNZ Preview and what next for the NZD\/USD\",\"datePublished\":\"2022-08-16T06:23:29+00:00\",\"dateModified\":\"2022-08-16T06:23:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/#webpage\"},\"publisher\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/#organization\"},\"keywords\":\"Bitcoin news,business,daily economic,daily forex market,Forex NEWS,Forex Trading,xtreamforex\",\"articleSection\":\"Economic News\",\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/#organization\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/#\/schema\/person\/45321100bcede4831a44b3131933cdff\",\"name\":\"manishaxtream\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6bbe06640aa1d8314a4dd4dd87880477?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6bbe06640aa1d8314a4dd4dd87880477?s=96&d=mm&r=g\",\"caption\":\"manishaxtream\"}},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.xtrememarkets.com\/MU\/august-rbnz-preview-and-what-next-for-the-nzd-usd\/#local-main-organization-logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.xtrememarkets.com\/MU\/wp-content\/uploads\/2021\/04\/download-1.png\",\"contentUrl\":\"https:\/\/www.xtrememarkets.com\/MU\/wp-content\/uploads\/2021\/04\/download-1.png\",\"width\":225,\"height\":225,\"caption\":\"Xtreamforex\"}]}<\/script>\r\n<!-- \/ Yoast SEO Premium plugin. -->","_links":{"self":[{"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/posts\/13225"}],"collection":[{"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/comments?post=13225"}],"version-history":[{"count":1,"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/posts\/13225\/revisions"}],"predecessor-version":[{"id":13226,"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/posts\/13225\/revisions\/13226"}],"wp:attachment":[{"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/media?parent=13225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/categories?post=13225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.xtrememarkets.com\/MU\/wp-json\/wp\/v2\/tags?post=13225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}