The post New Zealand Dollar: Firm as RBNZ signals more tightening – DBS appeared on BitcoinEthereumNews.com.
Philip Wee from DBS Group Research reports NZD/USD is holding firm above 0.57 after the Reserve Bank of New Zealand unanimously voted to lift the Official Cash Rate by 25 bps to 2.50%, a shift from May’s split decision. The RBNZ still sees policy as accommodative, signals likely further stimulus reduction, and projects inflation easing back toward its 2% midpoint by mid-2027. Kiwi supported by hawkish RBNZ “NZD/USD is firm above 0.57 after the Reserve Bank of New Zealand countered doubts regarding its inflation-fighting resolve.” “The vote to lift the official 25 bps hike to 2.50% was unanimous, which marked a clear departure from May’s 3-3 split to hold rates.” “With the OCR level remaining accommodative, the committee signalled that ‘further reduction in monetary stimulus is likely’.” “RBNZ projected that inflation will peak at 3.9% in 2Q26, slow to 3.3% in 3Q26, before declin
The post US Dollar Index: Slips despite yield support – DBS appeared on BitcoinEthereumNews.com.
DBS Group Research economist Philip Wee notes the US Dollar Index (DXY) slipped from 101.28 to 101 late in the US session, even as the US Treasury 2Y yield rose and crude Oil stayed supported by Middle East tensions. Futures pricing now shows September Fed hike odds above 50%, but FOMC Minutes suggest a divided committee and limited forward guidance from Chair Kevin Warsh. Middle East stress and Fed repricing “Although the futures market returned the odds of a September Fed hike above 50%, the FOMC Minutes did not convey the same urgency for one by the divided Fed participants.” “The DXY Index fell late in the US session from 101.28 to 101, decoupling from the higher US Treasury 2Y yield, despite its strong correlation with crude oil prices after President Donald Trump declared that the interim ceasefire agreement with Iran was over.” “However, Trump clarified that the US blockade applied s
The post SWIFT Launches Blockchain, Announces Tokenized Deposit Pilot with 17 Banks appeared on BitcoinEthereumNews.com.
The world’s largest financial messaging network, SWIFT, said its blockchain-based ledger is ready for initial use after nine months of development. Seventeen major banks, including HSBC, Citi, BNP Paribas, UBS, ANZ, DBS and Standard Chartered, are preparing to pilot cross-border payments using tokenized bank deposits on the new ledger, SWIFT announced on Thursday. The ledger will enable participating banks to support 24/7 cross-border payments, including overnight and weekend transactions, while maintaining existing compliance, credit, risk and control standards embedded in current payment processing. The launch marks another step in banks’ efforts to use tokenized deposits within regulated financial infrastructure while extending payment availability beyond traditional banking hours. SWIFT said it plans to expand the ledger’s functionality and availability after th
The post New Zealand Dollar advances above 0.5700 on RBNZ hawkish stance appeared on BitcoinEthereumNews.com.
The NZD/USD pair gains momentum to around 0.5735 during the early European session on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) on a hawkish interest rate hike from the Reserve Bank of New Zealand (RBNZ). The US weekly Initial Jobless Claims report will be published later on Thursday. As widely expected, the RBNZ raised its Official Cash Rate (OCR) by 25 basis points (bps) to 2.50% from 2.25% at its July meeting on Wednesday. The central bank signalled that additional tightening may be needed, as policymakers sought to ensure inflation returns to target despite easing energy prices and an economy that is only gradually regaining momentum. However, softer Chinese inflation data might cap the upside for the China-proxy Kiwi. Data released by the National Bureau of Statistics of China on Thursday showed that the Consumer Price Index (CPI) climb
The post New Zealand Dollar holds ground despite softer China’s CPI data appeared on BitcoinEthereumNews.com.
NZD/USD extends its gains for the second successive day, trading around 0.5720 during the Asian hours on Thursday. The pair holds gains as the New Zealand Dollar (NZD) remains stronger following the Consumer Price Index (CPI) inflation data release from New Zealand’s close trading partner, China. The National Bureau of Statistics (NBS) of China reported that inflation came in at 1.0% year-over-year (YoY) in June, against the 1.2% in May. The market consensus was for 1.1% in the reported period. CPI inflation arrived at -0.3% MoM in June versus a decline of 0.1% prior, softer than the expectation of a 0.2% fall. The NZD/USD pair appreciates as the US Dollar (USD) continues to lose ground following the release of Wednesday’s Federal Reserve (Fed) Meeting Minutes. The committee remains deeply divided over the trajectory of inflation, specifically whether it will remain sticky or b
The post New Zealand Dollar: RBNZ tightening supports upside – ABN AMRO appeared on BitcoinEthereumNews.com.
ABN AMRO’s Georgette Boele reports that the Reserve Bank of New Zealand lifted its policy rate by 25 bp to 2.5% and signalled more tightening is likely. Despite some easing in energy prices, the bank sees persistent inflation pressures and scope for further reduction in stimulus. With markets pricing additional hikes, ABN AMRO expects modest upside for the New Zealand Dollar versus the US Dollar. RBNZ hikes and signals further tightening “This week, the Reserve Bank of New Zealand raised its policy rate by 25bp to 2.5%.” “It also said that, with inflation still above target and economic activity expected to strengthen, further reduction in monetary stimulus is likely to be needed to bring inflation back to the 2% target midpoint.” “Future OCR decisions will depend on incoming data, price-setting behaviour and the strength of economic activity, and how these factors affect medium
The post New Zealand Dollar: RBNZ hike underpins kiwi – ING appeared on BitcoinEthereumNews.com.
ING’s Francesco Pesole reports that the Reserve Bank of New Zealand (RBNZ) raised rates to 2.50%, delivering a more hawkish message than expected and signalling further tightening is likely. He notes consensus within the Committee, sees another hike around September or October, but stresses dovish risks later in 2026 and maintains a 0.59 NZD/USD target by year-end. Further tightening signalled by rbnz “The Reserve Bank of New Zealand hiked rates by 25bp to 2.50% today, in line with our call. The accompanying message had a more hawkish tone overall than we had anticipated, though. The statement reads that further hikes “appear likely at upcoming meetings”, even if their timing is “highly uncertain”.” “There is still plenty of uncertainty around the inflation outlook, but the Bank stressed how non-tradable inflation had been persistent even before the war.” “We had suspected a close vote spli
The post New Zealand Dollar: RBNZ hikes but warns of more – BNY appeared on BitcoinEthereumNews.com.
BNY’s Geoff Yu reports that the Reserve Bank of New Zealand (RBNZ) raised its Official Cash Rate (OCR) by 25bp to 2.50% to steer inflation back to 2%. The committee still sees further removal of stimulus as likely, though data will guide decisions. The partial reopening of the Strait of Hormuz has eased Oil-related inflation pressures, but the earlier shock hurt New Zealand’s Q2 growth, with recovery expected in Q3 as confidence improves. Policy tightening keeps inflation in focus “The RBNZ has hiked its OCR by 25bp to 2.50%, seeking to return inflation to the 2% target.” “The committee continues to expect that further removal of monetary stimulus may be required, although future policy decisions will be guided by incoming data, inflation dynamics and economic activity.” “It said the recent partial reopening of the Strait of Hormuz had lowered global oil and petrochemical prices, easing
The post United States: Inflation expectations edge higher as oil rises – DBS appeared on BitcoinEthereumNews.com.
DBS Group Research’s Philip Wee reports that the New York Fed’s June Survey of Consumer Expectations showed 1-year inflation expectations rising to 3.7%, with 3-year expectations at 3.3% and 5-year unchanged at 3%. Despite higher oil and survey readings, futures pricing for a September Fed hike only nudged up, and consensus still sees a negative June CPI print. Survey and CPI expectations “The New York Fed’s June Survey of Consumer Expectations surprisingly reported that 1-year inflation expectations rose to 3.7% from 3.5% in May, the highest since September 2023.” “Consumers also expected inflation to rise to 3.3% from 3.1% over the next three years, but unchanged at 3% over the next five years.” “Prior to the report, New York Fed President John Williams expected headline inflation to decline alongside energy prices, confident that monetary policy was well positioned to a
