- NZD/USD bears are lurking in an attempt to take on the daily trendline support.
- A Doji candle followed by a daily engulfing could signal more to come from the bears in the days ahead.
- RBNZ inflation extensions are at a 31-year high, but US CPI trumps at a 40 year high already.
At 0.6658, NZD/USD is 0.17% lower on the day as the greenback continues to dominate the top spot on the forex leader board. On an hourly basis, the US dollar is leading while the commodity currencies are the laggards.
In recent trade, the Reserve bank of New Zealand released its Two-Year Inflation Expectations:
- RBNZ: OCR expectations continue to rise in the short and medium-term
- Q1: 3.27% (prev 2.96%).
- OCR expectations continue to rise in the short and medium-term.
- One year ahead CPI Inflation expectations rose to a 31-year high of 4.40%.
- Unemployment expectations reach all-time lows.
- House price expectations…
