Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is on the wires now, speaking at post-monetary policy meeting press conference. The RBNZ cut its Official Cash Rate (OCR) to a fresh record low of 1.50% earlier today amid bleak NZ economic situation. Key Quotes: There are large uncertainties around the rate track for New Zealand. US - China trade war one of the Bank's major concerns. Surprised by weaker downturn in business sentiment and consumer spending. (full story)

NZD/USD's recovery from the session low of 0.6525 printed immediately after the RBNZ rate cut announcement earlier today continues with the spot currently trading at 0.6585. RBNZ's Governor Adrian Orr was out on the wires soon before press time stating that there are significant uncertainties around the rate track in New Zealand and the US-China trade war is one of the major concerns of the central bank. Orr added further that he is surprised by the downturn in business sentiment and consumer spending. Orr's comments may bolster expectations of another rate cut in August, complicating Kiwi's recovery. However, China ... (full story)