A
weaker than expected Retail Sales number for New Zealand has held back the
buyers from adding to their long positions leading into the official Kiwi
interest rate announcement at the end of the month. The January Retail Sales
figure was expected to show growth of 1.7% in January however the number that
printed on computer screens was 1.2% indicating the Kiwis didn't spend as
exuberantly in January as anticipated.
Will
this alter the RBNZ's decision to begin raising interest rates
"soon"? No, the RBNZ has indicated that interest rates need to
return to more normal levels and to expect a rise in the official interest rate
by 2.25% over the next 2 years.
Learn the ropes of Currency Trading with the LTG GoldRock Team on www.LTGGoldrock.TV
No comments:
Post a Comment