NZDUSD surges on a possible interest rate hike.
NZDUSD rising sharply today as the result of the powerful bullish new Zeeland dollar sentiment after the Reserve Bank of New Zealand (RBNZ) surprised many investors by projecting that it might hike interest rates as early as September next year – becoming one of the first advanced economies to signal a move away from the stimulatory policy adopted during the pandemic. The reason for this is the New Zealand’s success in curbing the coronavirus pandemic – which allowed it to reopen its domestic economy – boosting employment and consumer spending. Economic growth has also been helped by a jump in the prices of key commodities.
Except buyers on downward corrections.
Next resistance to watch – 0.7373
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