The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
Should we expect more easing by the RBNZ?
The Reserve Bank of New Zealand (RBNZ) will publish the monetary policy statement and announce the interest rate at 05:00 MT time on May 13.
Instruments to trade: NZD/USD, NZD/CHF, NZD/JPY
Each quarter, the regulator conducts a meeting where its policymakers discuss current economic stance and forecasts for upcoming quarters. Based on that they reveal tools for supporting an economy of the country in the monetary policy statement, including an update on the interest rate. In the middle of March, the RBNZ cut its interest rate to the record low of 0.25%. Analysts suggest that the global uncertainties and widespread weakness amid the pandemic may push the bank to cut the interest rates to negative levels. Also, we may expect more easing to be introduced this week.
• If the RBNZ eases its policy, the NZD will weaken;
• If the RBNZ keeps the policy unchanged, the NZD will strengthen.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The Federal Open Market Committee will make its statement and announce the interest rate on July 29, at 21:00 MT time.