News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • $USDCAD, $AUDUSD Near-term Technical Setups -
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.11% Gold: -0.91% Silver: -3.20% View the performance of all markets via
  • A pretty clean break from $SPX and other risk-sensitive assets are following along. As Hans Landa said in Inglorious Basterds: "Ooooooo. That's a Bingo"
  • US Dollar Index reaches a multi-month high as markets strike a risk-off tone $USD $DXY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 70.14%. See the summary chart below and full details and charts on DailyFX:
  • EUR/USD sheds 40-pips in a matter of minutes as the US Dollar strengthens broadly. Get your $EURUSD market update from @RichDvorakFX here:
  • Well, I don't think Powell will temper interest/concern around central banks having to pullback in the foreseeable future. Both 'taper tantrum' and 'operation twist' search interest charging higher:
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.86% FTSE 100: -1.20% France 40: -1.27% Wall Street: -2.32% US 500: -2.53% View the performance of all markets via
  • Nasdaq now down over 3% today, confirming 10% correction territory. $QQQ
  • $USDCHF has continued to strength today, now above the 0.9280 level, trading around the highs hit in late September. The pair has performed strongly since mid February as US rates have continued higher, rising from 0.8900 by nearly 400 pips to its current levels. $USD $CHF
RBNZ Holds at 1.75 Percent As Expected, Frets About Trade Wars

RBNZ Holds at 1.75 Percent As Expected, Frets About Trade Wars

Peter Hanks, Strategist

Talking Points:

  • The RBNZ last changed its Official Cash Rate in November 2016, lowering it 25 basis points to 1.75%
  • The New Zealand Dollar suffered significant losses to the greenback ahead of the rate decision
  • No change is anticipated at their next decision in August, but it brought up concerns on trade wars

Stay up to date with important economic data with our Economic Calendar and gain insight on market moving events like the New Zealand Rate Decision from our Live Webinars.

The Reserve Bank of New Zealand failed to deliver a surprise to markets as they kept the Official Cash Rate at 1.75%, unchanged from the previous meeting. The rate remains at a record low and has not been adjusted since November 2016, when the RBNZ cut the rate by 25 basis points from 2.00% to 1.75%. Since then, the RBNZ has remained relatively dovish and was dealt some positive news this week in the form of trade figures.

In conjunction with the positive trade figures, the RBNZ offered some relatively dovish statements with the release of their rate decision. The RBNZ said they are well positioned to “manage rate change in either direction.” Similarly, they believe it is best to keep rates expansionary for considerable period while the global growth outlook is tempered by trade tensions. On a hawkish note, the reserve bank sees slightly more spare capacity in the economy than expected, but likely remains skeptical because of the expanding trade war.

The New Zealand Dollar rose modestly on Wednesday following the release of the Official Cash Rate decision which pared some of the losses it faced earlier in the session. As for a broader picture, the Kiwi continues its downward trend which began in mid-April. New Zealand growth slowed to 2.7% from 2.9% in the last three months of 2017. While the statements from the RBNZ may have triggered a pullback in NZD/USD, confirmation will be needed before assuming that a reversal is in play.

Chart 1: NZD/USD, Hourly June 22-27

RBNZ Holds at 1.75 Percent As Expected, Frets About Trade Wars

Chart 2: NZD/USD, Daily Year-to-Date

RBNZ Holds at 1.75 Percent As Expected, Frets About Trade Wars

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.