NZ CPI coming up, what will it mean for NZD/USD? By ross_burland CPI NZDUSD
New Zealand Consumer Price Index is coming up and the data is expected to that show consumer prices rose 7.4% YoY – the fastest increase since 1990 .Review said they expected inflation would “peak around 7 percent in the first half of 2022”, '' analysts at ANZ Bank said. ''Whatever the headline inflation number, we suspect it’ll be the details of the release that will concern the RBNZ the most.
''The data are likely to add further pressure to the RBNZ to rapidly remove monetary stimulus – including we think by lifting the OCR by 50bps to 2% at the May MPS.'' NZD/USD has been firmly bid and was just over 1% higher for the day on Wednesday as Wall Street draws to a close. The US dollar was sliding as US yields corrected which gave a boost to risk apatite and the commodity complex.
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