5:00pm (NY Time) RBNZ Rate Decision Forecast 2.75% Previous 2.50%
ACTION: NZD/USD BUY 3.00% SELL 2.50%
The rate decision is often priced in the market so it tends to be overshadowed by the RBNZ Rate Statement which is focused on the future. Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future.
Update: Based on market sentiment and patience, we were able to make 45 pips from retracement trade.