New Zealand dollar falls, bonds rally as RBNZ flags possible easing
SYDNEY, July 10 (Reuters) -The New Zealand dollar fell on Wednesday while bonds rallied as markets sharply ramped up bets for a rate cut as early as August after the Reserve Bank of New Zealand opened the door to possible easing if inflation slows as desired.
The RBNZ held interest rates steady at 5.5%. With policymakers expecting inflation to return to the target range in the second half of the year, it added "the extent of this restraint (in policy) will be tempered over time consistent with the expected decline in inflation pressures".
The kiwi dollar NZD=D3 fell 0.7% to $0.6083, having held mostly steady overnight. It has support at $0.6048, a 1-1/2-month low.
Two-year swap rates NZDSM3NB2Y= tumbled 11 basis points to a six-month low of 4.6850%, and investors moved to bet a rate cut in August is now a 58% probability.
A move in October has been more than fully priced in, compared with just 66% before the rate decision. For all of 2024, swaps imply a total of 45 basis points of easing. 0#RBNZWATCH
Bonds rallied, with two-year New Zealand government bond yields NZ2YT=RR falling 11 basis points to 4.665%, a three-month low.
"Against expectations that the brief statement would repeat the key messages from May, it was less hawkish," said Imre Speizer, head of NZ strategy at Westpac.
The RBNZ news also sent the kiwi tumbling against the Australian dollar, which has benefitted from the risk of another rate rise from the Reserve Bank of Australia.
The Aussie surged 0.8% to NZ$1.1089, its highest since October 2022. AUDNZD=R
Against the greenback, the Australian dollar was little changed at $0.6740 AUD=D3.
The Australian dollar has been steadily rising against the Japanese yen AUDJPY=R, thanks to demand to use the low-yielding yen to fund investments in higher-yielding currencies.
It touched 108.88 yen on Wednesday, the strongest in 33 years.
Reporting by Stella Qiu; Editing by Jacqueline Wong
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
