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NZD/USD Stays Resilient Ahead of the Reserve Bank of New Zealand Official Cash Rate Release.

New Zealand Official Cash Rate.jpg

In the second quarter, the New Zealand economy maintained a steady accelerating growth pattern. In its growth trajectory, external demand experienced a surging increase, and its stocks and equities edged higher with New Zealand Dollar (NZD) staying resilient in gains smashing multi-points resistance levels. Currently maintaining gains above 0.69560 price point.

Unfortunately, the recovery curve was flattened in the third quarter following the recent lockdown in mid-August that bridged the flow. Household spending declined due to falling consumer confidence from June’s high of 114.0 index to 104.5-point low in September. likewise, business sentiment is at its lows pointing to unfavorable private sector activities.....

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