NZDUSD: RBNZ's hawkish tone to be Kiwi-positive – ANZ

NZDUSD regained 0.62 for a short period but closed back in the mid-0.61s. This week is all about the RBNZ – economists at ANZ Bank expect them to be hawkish, supporting the Kiwi.

This week is all about the RBNZ

“We expect a 75 bps hike from the RBNZ and a higher track, with no let-up in their erstwhile hawkish tone. The global growth outlook may be turning, and US CPI may have peaked, but given local data and the three-month gap, we think it’s too soon to switch from the front foot to the back foot, so to speak.

“We expect a hawkish tone to be NZD-positive, but are mindful of US Fed minutes also due this week. They could be hawkish/upbeat too, so we may be in for volatility.”

“Support 0.5875/0.6000 Resistance 0.6235/0.6470/0.6575”