16.08.2016 - Volatility of the New Zealand dollar is likely to grow

Price of the New Zealand dollar shows the growth amid the weakening US dollar. In addition, support for the currency is the rising dairy prices and the expectation of positive dynamics in the near future. Volatility tomorrow will also be raised in connection with the publication of statistics on the labor market in the country that traditionally leads to strong movements. Our medium-term outlook for the New Zealand dollar remains negative due to the recent reduction in key interest rate of the Reserve Bank of New Zealand by 0.25% and the probability of further easing of monetary policy before the end of the year. Potential targets will be 0.6600 and 0.6250. Despite this, the current positive momentum can continue in the near future.

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