Forex Analysis & Reviews: 09.11.2017 - Global macro overview for...

Live Chat

This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.

Become Trader

开户

另见

交易条件

外汇分析

图表

This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.

Start as Beginner

如何开始交易

有用信息

Training and recordings

InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.

Become Investor

PAMM 系统

外汇跟单系统

被动投资

OYS 帐户

Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.

Become Partner

主页

合作伙伴区域

同盟的优势

This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.

All Promo Campaigns

Bonuses

比赛

事件

Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.

Full details

论坛

我们在社交网络

外汇幽默

外汇门户

InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.

Learn More

History

为什么选择我们

InstaSport

法规

公司新闻

奖项

InstaForex 明星

InstaForex 线下

Headquarters

关键文件

的社会责任

InstaForex - 龙之队的官方合作伙伴

09.11.2017 01:15 PM

Global macro overview for 09/11/2017

The decision to leave the interest rates unchanged was largely expected. The bank also lifted its inflation forecasts to factor in the impact of new government policies and a weaker currency. At the press conference, Acting Reserve Bank Governor Grant Spencer said proposed Government changes would have little effect on the Bank's thinking in current economic conditions. Nevertheless, in he brought forward a potential rate hike to June 2019 from September that year. He added: " "Moving to a dual mandate is unlikely to have an impact on the way we run monetary policy. Currently, inflation was the Bank's primary objective but was not the sole objective". Moreover, Spencer reiterated the mantra the market participants know from the previous meetings already: "monetary policy will remain accommodative for a considerable period. Numerous uncertainties remain and policy may need to adjust accordingly". At the end of the meeting, Spencer added, that RBNZ incorporated preliminary estimates of the impact of new government policies in four areas: new government spending; the KiwiBuild programme; tighter visa requirements; and increases in the minimum wage, but the outlook and the impact of this policies remain uncertain.

In conclusion, a dovish tone of the Spencer remarks and the already known RBNZ wait-and-see approach did not bring anything new to the more tightening monetary policy discussion. The New Zealand Dollar has fallen around 2.3% on a trade-weighted index basis since the new government was formed and is around 6.0% below where the bank forecast it would be in the September quarter.

Let's now take a look at the NZD/USD technical picture at the H4 time frame after the news was released. The market is at the key level now as it tests the technical resistance at the level of 0.6970 and the golden trend line resistance. Nevertheless, the key level to the upside is still the gray zone between the levels of 0.7057 - 0.7089. Only a sustained breakout through this zone would change the outlook to more bullish in the short-term.