NZD/USD edges lower after Fed, awaits RBNZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - NZD/USD edged lower but overall remained within its daily range, as the US dollar strengthened following Fed decision to leave rates unchanged which was accompanied by a not so dovish statement.

    NZD/USD dropped to a session low of 0.6480 before the 50-hour offered support. The pair is currently trading at 0.6486, just a few pips below its opening price as attention turns to the Reserve Bank of New Zealand announcement.

    The RBNZ is expected to keep the overnight cash rate unchanged at 2.5% as the bank is expected to maintain a wait and see mode following a 25 bps cut in December.

    Meanwhile, Fonterra cut milk price forecast minutes ahead of RBNZ announcement.
    For more information, read our latest forex news.

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