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. See our updated Privacy Policy here.



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
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX!
  • (Weekly Fundy) Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande #CrudeOil #WTI #OPEC #Evergrande
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
New Zealand Dollar Outlook: Will RBNZ See Housing Prices Added to Remit?

New Zealand Dollar Outlook: Will RBNZ See Housing Prices Added to Remit?

Daniel Dubrovsky, Strategist

New Zealand Dollar, NZD/USD, AUD/NZD, RBNZ Remit, Technical Analysis - Talking Points

  • NZD soars as govt. proposes adding house prices to RBNZ remit
  • This has cooled dovish bets, NZD/USD may also rise with stocks
  • ‘Risk-neutral’ AUD/NZD down, could extend losses to 61.8% Fib

The New Zealand Dollar is soaring during morning Tuesday Asia Pacific trade after reports crossed the wires that the local government proposed adding housing prices to the central bank’s remit. Finance Minister Grant Robertson is seeking advice on measures to curb housing demand. Housing prices have climbed about 20% from October 2019, raising concerns about inflation in a zero-interest rate environment. The central bank said that it will ‘engage constructively’ on the proposal.

NZD has generally been on an aggressive rise as of late after the Reserve Bank of New Zealand hinted against the use of negative interest rates. Earlier this month, the central bank introduced a Funding for Lending Programme (FLP) to help prepare the economy for a negative rate environment. However, the central bank also highlighted a more resilient economy and stopped short of affirming negative OCR bets.

Today’s announcement by New Zealand’s government further cooled those expectations, sending local government bond yields higher. This is making NZD relatively attractive in markets and may continue doing so in the near term. The sentiment-linked currency may also receive a boost from a rise in equities given recent developments around Covid vaccines and the initiation of a Joe Biden transition in the US.

New Zealand Dollar Technical Analysis

NZD/USD is pushing beyond 2019 highs, aiming to close above the peak from the end of 2018. That would expose the June 2018 high at 0.7060. Maintaining the upside bias appears to be the near-term 20-day Simple Moving Average which could hold in the event of a turn lower towards the 0.6756 – 0.6798 inflection zone.

NZD/USD Daily Chart

New Zealand Dollar Outlook: Will RBNZ See Housing Prices Added to Remit?

Chart Created in TradingView

Risk-neutralAUD/NZD is extending losses beyond lows from July, aiming to break under the midpoint of the Fibonacci retracement at 1.0520. That has exposed the 61.8% level at 1.0397 as the pair aims to reverse the dominant uptrend from March through early August. Immediate resistance could be the former 1.0556 – 1.0598 support zone.

AUD/NZD Daily Chart

New Zealand Dollar Outlook: Will RBNZ See Housing Prices Added to Remit?

Chart Created in TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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