After the surprise cut of 50bps, RBNZ Gov Orr hinted at negative rates amid worsening trade conflict and darkening global outlook. NZD/JPY could head towards 65.30.
RBNZ could hint that they are looking for further easing amidst escalation of the US-China trade war. NZD/JPY could fall further.
Chief Strategist Jimmy Zhu discusses in this CGTN report why the US Treasury department’s decision to label China as a Forex manipulator is a symbolic move without much implication.
Trump could be dragging the trade war until the 2020 US elections before withdrawing to boost vote numbers. Gold could potentially rise higher as risk-off sentiments continue to increase.