The Reserve Bank of New Zealand Kept the Current Rate of Monetary Policy

The Reserve Bank of New Zealand, as expected, left the key interest rate unchanged at 1.75%. Representatives of the Central Bank announced that monetary policy should remain adaptive. The regulator also noted positive changes in the country's economy. During the Asian trading session there was an increase in demand for the New Zealand dollar.

Yesterday, the US dollar showed a variety of trends in relation to the major world currencies. Positive statistics on the real estate market in the US did not support the US currency significantly. In May, sales in the secondary housing market grew by 1.1% to 5.62M, which is more than the forecast value at 5.55M.

The US Energy Information Administration (EIA) report indicated a decrease in crude oil reserves by 2.45 million barrels. Nevertheless, this statistics could not support the oil prices, as investors are still concerned about the excess supply in the market of "black gold".

Market Indicators

Yesterday, US stock indices showed mixed results: #SPY (-0.02%), #DIA (-0.24%), #QQQ (+ 0.99%). At the moment, the 10-year US government bonds yield is at the level of 2.15%.

During yesterday's trading, the dollar index (#DX) decreased by 0.20%.

Today we recommend you to pay attention to the following economic reports:

• – The number of initial applications for unemployment benefits in the US – 15:30 (GMT+3:00);
• – Statistics on retail sales in Canada – 15:30 (GMT+3:00).

by JMarkets, 2017.06.22

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.