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RBNZ maintains benchmark interest rate at 0.25% with bond purhcase program at NZD100b

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  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.15% 🇪🇺EUR: 0.07% 🇬🇧GBP: 0.03% 🇨🇭CHF: 0.02% 🇦🇺AUD: 0.01% 🇨🇦CAD: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zQkfCDgAJQ
  • $NZDUSD just a touch lower after the #RBNZ rate announcement after policy settings were left unchanged https://t.co/i2BolXsSrE https://t.co/dxWNxNJ076
  • RBNZ: Less government bond issuance placing less pressure on yields, weekly changes in LSAP don't represent policy shift -BBG
  • RBNZ: Growth outlook remains highly uncertain, committee saw risks to economic outlook as remaining balanced -BBG
  • RBNZ: Meeting requirements will take time and patience, assessments of remit change to be included in May FSR -BBG
  • RBNZ: Prepared to lower rate if required, will maintain stimulatory settings until CPI at midpoint -BBG
  • RBNZ maintains benchmark interest rate at 0.25% and bond purchase program at NZD100b -BBG $NZDUSD #NZD
  • 🇳🇿 Interest Rate Decision Actual: 0.25% Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2021-04-14
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.67%, while traders in France 40 are at opposite extremes with 80.40%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vGd2alrTJx
  • Heads Up:🇳🇿 Interest Rate Decision due at 02:00 GMT (15min) Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2021-04-14
Australian Dollar Forecast to Depreciate Further

Australian Dollar Forecast to Depreciate Further

David Rodriguez, Head of Product
Australian Dollar Forecast to Depreciate Further

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AUDUSD The retail forex trading crowd remains extremely long the Australian Dollar versus the US Dollar, and until that changes we see little choice but to call for further AUDUSD weakness.

Trade Implications – AUDUSD:Net AUD positioning is near its most long since the currency set an important intermediate low in May. Heavily one-sided sentiment warns that price may be near an important turn, but as with other US Dollar pairs the trend remains clearly in favor of AUDUSD declines.

See next currency section:NZDUSD - New Zealand Dollar Poised for Continued Declines

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Australian Dollar Forecast to Depreciate Further

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

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