Intraday Market Thoughts

Archived IMT (2010.06.09)

by Ashraf Laidi
Jun 9, 2010 17:07

RBNZ RATE HIKE? Markets price a 81% chance of a 25-bt rate hike by the RBNZ to 2.75% (21:00 GMT today) A spike in inflation expectations to an annual 2.9% in Q2 from 2.1% and unemployment dropped to 6.0% from above 7.1%, could prompt a rate hike alongside a hawkish policy statement. NZDUSD eyes 0.6780s trend line resistance, while NZDJPY faces prelim resistance at 61.80s. Key pressure stands at 62.50s. As long as Asian equities take the baton from a positive US session, the risk trade will add more gains to AUD and NZD pairs at the expense of JPY.


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