State of the market: New Zealand dollar increased the pressure on commodity currencies

At the start of the day, the RBNZ meeting results were published, according to it the key interest rates were kept unchanged. But the Central Bank of New Zealand announced the possibility of lowering rates in the future, arguing that it is the risk of the economy. As a result, the New Zealand dollar has collapsed across the market. The commodity currencies were under the  pressure after it. Stock indices in the Asia-Pacific region slowed their growth against the background of the collapse of the New Zealander.

The American currency received support at the start of the day on the reduction of the New Zealander and the investors’ flight from risks. Thus, the US dollar index was fixed above the significant support of 96.70-80 and is limited by the psychological resistance of 97.00 and 97.20.

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Hanzenko Anton

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