#NZDUSD @ 0.62750 : Higher OCR should be kiwi-beneficial – ANZ
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NZD/USD is treading water ahead of tomorrow’s Reserve Bank of New Zealand (RBNZ). The outlook for carry is the key focus, economists at ANZ Bank report.
“Kiwi seems to be mostly about carry now that some short-end rates are around 6%, which is world-beating.”
“With genuinely expansionary forces (migration/fiscal) behind the reasons most are calling for a higher OCR, higher rates should be NZD-beneficial, twin deficits (fiscal/trade) cast a dark shadow over the background.”
“Support 0.5750/0.5900/0.6085 Resistance 0.6365/0.6540”
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