NZD/USD shows a volatility squeeze around 0.6230 after hawkish RBNZ, Fed minutes in focus NZDUSD Fed RBNZ Volatility SEO
NZD/USD is demonstrating a volatility contraction ahead of Federal Open Market Committee minutes.
Investors’ risk-taking ability is improving gradually as the risk-sensitive assets have shown some recovery after observing sheer weakness on Tuesday. S&P500 futures have added some gains after recording the worst day of 2023. The Economic activities in the United States were contracting in the past three months and investors started anticipating that the Federal Reserve would consider a pause in the policy tightening spell this month. However, Fed chairwas reiterating that inflation is persistent and it would be premature to consider a pause or rate cut in the current monetary policy.
Recently, Cleveland Fed President Loretta Mester and St. Louis Fed President James Bullard have advocated for another 50 basis-point hike, which should be on the table for upcoming decisions, as reported by Bloomberg. A strong consideration for 50 bps rates might propel recession fears in the United States.Inflationary pressures in the New Zealand economy have not peaked yet as the domestic demand is extremely solid.
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