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Kiwi Traders Look to Inflation Data for Negative Rates Clues
A string of positive New Zealand data has got investors reassessing the odds of negative interest rates. Inflation figures due this week may help to clarify the picture. The report may be key for the New Zealand dollar, which has been consolidating against the greenback since mid-September. Depending on the print, the kiwi could breach its 100-day moving average to drop toward 64 U.S. cents or head higher to test resistance around 68 cents. New Zealand’s currency has been caught in a tug-of-war as traders try to get a handle on when and if the central bank will deploy sub-zero rates to shore up growth. While policy ... (full story)