The Banking crises continues to upset market stability and risk appetite. The US and European authorities have managed to contain the crises so far, but time will reveal all. The NZD has been sliding against the USD, since the initial boost from the RBNZ’s aggressive 50 basis point rate rise in early April. It has been all downhill since, despite the favourable interest rate differentials. Look for guides in the RBNZ Financial Stability Report to be released Wednesday 3rd May.
Current Level: 0.6175
Resistance: 0.6200
Support: 0.6125