03.02.2016 - The data on the labor market in New Zealand has led to the growth of NZD/USD
Today the head of the Reserve Bank of New Zealand made a statement in which he noted that the exchange rate of the national currency is overvalued and the RBNZ is ready for monetary easing in case of worsening outlook for global growth. We recall that inflation in the country dropped to 0.1% in Q4, which is significantly below the target level of 2.0%. It is worth noting that today was published positive statistics on the unemployment rate in the country, which in Q4 unexpectedly fell to 5.3% that is significantly better than 6.0% in the 3rd quarter. Our medium-term outlook for the New Zealand dollar remains negative and we recommend using the current growth in the search for points of entry into a short position.