NZD/USD FORECAST AND NEWS
NZD/USD advances to two-month peak, around mid-0.5700s amid weaker USD
The NZD/USD pair attracts buyers for the third successive day on Monday and climbs to a two-month peak, around the 0.5750 area during the Asian session amid the prevalent US Dollar (USD) selling bias.
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EUR/USD stays defensive below 1.0500 amid light trading
EUR/USD struggles to capitalize on recent upside and oscillates in a narrow range below 1.0500 in European trading on Monday. However, the pair's downside remains cushioned by persistent US Dollar weakness and an upbeat mood. Focus shifts to central bank talks.
GBP/USD ranges near 1.2600 as US Dollar steadies
GBP/USD keeps its range near 1.2600 in the early European session on Monday. The pair stays support amid a subdued US Dollar price action following Friday's disappoining US Retail Sales data. Thin trading is likely to extend as US markets are closed in observance of Presidents' Day.
USD/JPY off lows but heavy near 151.50 amid upbeat Japan's Q4 GDP
The Japanese Yen sticks to its strong intraday gains in the wake of a strong domestic Gross Domestic Product print, which reaffirmed bets that the Bank of Japan will hike interest rates further.
Gold: Bulls have the upper hand near $2,900 amid trade war fears and weaker USD
Gold regained positive traction on Monday amid sustained USD weakness. Concerns about Trump’s tariffs further benefit the safe-haven XAU/USD pair. The fundamental and technical setup underpin prospects for additional gains.
WTI holds steady above $70.50, eyes on Russia-Ukraine peace deal
West Texas Intermediate Oil price rebounds from losses in the previous session, trading around $70.60 per barrel during Monday’s Asian hours. However, crude Oil prices faced headwinds as optimism surrounding a potential peace deal between Russia and Ukraine eased supply concerns.
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Influential Institutions & People for the NZD/USD
The Reserve Bank of New Zealand (RBNZ)
The Reserve Bank of New Zealand is New Zealand's central bank. Like most central banks, the Reserve Bank is primarily a policy organisation, and exists to do three main things: formulate and implement monetary policy to maintain price stability, promote the maintenance of a sound and efficient financial system and meet the currency needs of the public.
The official website, on Twitter and YouTube
On the other
FED Official Website, on Twitter and Facebook
Adrian Orr
Governor of the Reserve Bank of New Zealand since March 2018. He is New Zealand born and bred, married to a novelist and they have 3 adult children. Adrian is a 1983 undergraduate of the University of Waikato (New Zealand) and a 1985 Masters graduate (with Distinction) from the University of Leicester (England). Following his Masters, Adrian remained in the United Kingdom for three years working as a Research Associate and tutor at the City University Business School, in London. Adrian returned to New Zealand in 1988 to take up the position of Research Economist at the New Zealand Institute of Economic Research before joining the Economics team at the National Bank of New Zealand the following year. In 1992 Adrian moved to France to work as an economist at the Organisation for Economic Cooperation and Development (OECD). After holding this role for three years, Adrian returned to New Zealand and worked for a short time as a Chief Analyst at The Treasury, before returning to the National Bank as Chief Economist. Adrian was appointed Chief Manager of the economics team at the Reserve Bank of New Zealand in 1997, providing core economic and policy advice to the Governor.
Jerome Powell
Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028. Prior to his appointment to the Board, Mr. Powell was a visiting scholar at the Bipartisan Policy Center in Washington, D.C., where he focused on federal and state fiscal issues. From 1997 through 2005, Mr. Powell was a partner at The Carlyle Group. Mr. Powell served as an Assistant Secretary and as Undersecretary of the Treasury under President George H.W. Bush, with responsibility for policy on financial institutions, the Treasury debt market, and related areas. Prior to joining the Administration, he worked as a lawyer and investment banker in New York City. Mr. Powell was born in February 1953 in Washington, D.C.