{"id":47600,"date":"2023-07-12T06:08:00","date_gmt":"2023-07-12T05:08:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=47600"},"modified":"2023-07-12T13:11:32","modified_gmt":"2023-07-12T12:11:32","slug":"morning-brief-rbnz-hold","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/","title":{"rendered":"Morning Brief &#8211; RBNZ Hold"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"47600\" class=\"elementor elementor-47600\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1413f8a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1413f8a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4e2c757\" data-id=\"4e2c757\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-25ac9a0 elementor-widget elementor-widget-text-editor\" data-id=\"25ac9a0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The New Zealand currency fell after the Reserve Bank of New Zealand (RBNZ) left rates unchanged at its\u00a0monetary policy\u00a0meeting earlier today. The <a href=\"https:\/\/bit.ly\/2KflF5J\" target=\"_blank\" rel=\"noopener\">kiwi<\/a> has since rebounded on the prospect of less severe domestic economic conditions going forward.<\/p><p>The RBNZ had previously raised the overnight cash rate (OCR) 12 times since the first lift in October 2021. Stock markets in New Zealand consolidated higher on the news following losses seen at the open.<\/p><p>NZ CPI in the first quarter was below expectations at 6.7% and the second quarter reading will be released next week. The RBNZ have an inflation target of 1 &#8211; 3%. The initial weakness in the aftermath of the OCR decision was most notable against the <a href=\"https:\/\/bit.ly\/2OX9krx\" target=\"_blank\" rel=\"noopener\">yen<\/a> and<a href=\"https:\/\/bit.ly\/3oIivbH\" target=\"_blank\" rel=\"noopener\"> Aussie<\/a>.<\/p><p>Today\u2019s pause in the hiking cycle may reflect the market perception of many Western central banks whereby once policy settings are seen as tight enough, an extended period of \u2018wait and see\u2019 could be in store.<\/p><p>It was a busy morning for Antipodean currencies, as RBA Governor Lowe was also speaking. Lowe noted that \u201c<em>it is possible there will be more rate hikes still to come.<\/em>\u201d<\/p><p>He also added that \u201c<em>possible some further tightening will be required to return inflation to target<\/em>\u201d and the RBA \u201c<em>Remains to be determined whether monetary policy has more work to do.<\/em>\u201d<\/p><p>Traders await the CPI release from the US later today, notably the US dollar remained soft ahead of the CPI drop during the Asian trading session.<\/p><p>CIBC bank note that \u201c<em>Base effects will be behind a sharp drop in the pace of annual headline inflation to 3.1% in the US in June, as surging gasoline prices from a year ago drop out of the calculation. That will leave inflation at the slowest pace since March 2021.<\/em>\u201d<\/p><p>CIBC add that \u201c<em>Excluding food and energy, core price pressures could have also subsided to a pace not seen since late 2021 at 5.0%, with potentially slower inflation in shelter adding to a possible drop in used car prices, in line with industry measures.<\/em>\u201d<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The New Zealand currency fell after the Reserve Bank of New Zealand (RBNZ) left rates unchanged at its&nbsp;monetary policy&nbsp;meeting earlier today. The kiwi has since rebounded on the prospect of less severe domestic economic conditions going forward. The RBNZ had previously raised the overnight cash rate (OCR) 12 times since the first lift in October [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":47604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[251,421,300,53,264],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morning Brief - RBNZ Hold - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - RBNZ Hold\" \/>\n<meta property=\"og:description\" content=\"The New Zealand currency fell after the Reserve Bank of New Zealand (RBNZ) left rates unchanged at its monetary policy meeting earlier today. 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The kiwi has since rebounded on the prospect of less severe domestic economic conditions going forward.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Morning Brief &#8211; RBNZ Hold\",\"datePublished\":\"2023-07-12T05:08:00+00:00\",\"dateModified\":\"2023-07-12T12:11:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/\"},\"wordCount\":339,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"AUDNZD\",\"CPI\",\"NZDJPY\",\"NZDUSD\",\"RBNZ\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/\",\"url\":\"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/\",\"name\":\"Morning Brief - RBNZ Hold - Youtrading UK\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/#website\"},\"datePublished\":\"2023-07-12T05:08:00+00:00\",\"dateModified\":\"2023-07-12T12:11:32+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-rbnz-hold\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/youtrading.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Morning Brief &#8211; RBNZ Hold\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/youtrading.com\/en\/#website\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"name\":\"Youtrading UK\",\"description\":\"Leaders in Trader Training\",\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/youtrading.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/youtrading.com\/en\/#organization\",\"name\":\"YouTrading\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"contentUrl\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"width\":2531,\"height\":570,\"caption\":\"YouTrading\"},\"image\":{\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/YouTradingEnglish\/\",\"https:\/\/www.instagram.com\/youtrading_english\/\",\"https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\",\"name\":\"Nathan Batchelor\",\"description\":\"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. 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