Global macro overview for 09/09/2015:
The Reserve Bank of New Zealand (RBNZ)is set to release its decision on the short-term interest rates at 9:00PM GMT today. The current interest rate is at the level of 3.00%, but the market expects a further cut by 0.25% to the level of 2.75%. Please notice that RBNZ has alredy cut rates twice this year to stimulate the sluggish growth outlook.
The NZD/USD chart looks slightly bullish ahead of the RBNZ meeting and interest rate decision as the market broke above the golden trend line and now is trying to test the important resistance at the level of 0.6408. The support comes at the level of 0.6242.
The material has been provided by InstaForex Company – www.instaforex.com