RBNZ cuts rates 25bp while NZD hovers at 0.5900 - what smart money knows
Key Points
- RBNZ is expected to cut rates by 25 basis points, pushing th...
The Reserve Bank of New Zealand is about to cut rates with the certainty of a weather forecast promising rain in Seattle. With over 90% probability of a 25 basis point cut dropping the Official Cash Rate from 3.25% to 3.00%, traders are positioning like they're ordering the obvious choice at a restaurant - everyone knows what's coming, but they're still sweating the execution.
The Kiwi dollar is currently doing its best impression of a tourist trying to bargain at a souvenir shop, hovering around 0.5900 against the USD and looking increasingly desperate. With unemployment climbing to 5.2% and...
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