Kiwi Fluctuated Due to QE Method of Reserve Bank of New Zealand
- 2020-06-26
Reserve Bank of New Zealand has raised more than NZD260 billion capital on QE method, known as catalyst to enhance economic growth.
According to the reserve bank, monthly mortgage committed to purchase about NZD4.3 billion in May, increased about 57.1% compared to April 2020, but it was dipped down about 33.3% compared to May 2019.
However, the Fed has released above 9 billion dollars in to Repo market to recover the economic performance. Mr. Robert Steven Kaplan, president and CEO of the Fed of Dallas has forecasted, economic may continuously dropped about 5% in this year, while unemployment rate shall remain within 8 to 10 percent.
Pivot Point: 0.64300
R1: 0.64500 S1: 0.64000
R2: 0.64700 S2: 0.63700
R3: 0.64900 S3: 0.63600
Investor should buy NZD at 0.63700, setting take profit at 0.64400 and stop loss at 0.63200.