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NZD/USD Stays Resilient Ahead of the Reserve Bank of New Zealand Official Cash Rate Release

In the second quarter, the New Zealand economy maintained a steady accelerating growth pattern. In its growth trajectory, external demand experienced a surging increase, and its stocks and equities edged higher with New Zealand Dollar (NZD) staying resilient in gains smashing multi-points resistance levels. Currently maintaining gains above 0.69560 price point.

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Leverage on the Canadian Dollar (CAD) Gains Trading the Unemployment Rate As Bullish Sentiment Heightens

Canada’s growth pattern has been in pace consistent with the developed nations. Tracking its growth trajectory through series of global recession, the economy was often seen roaring back with progressive move and job market upside bounce. On the first wave of the virus hit, more than two million people were left unemployed and rising risk sentiment took its tool. The Canadian dollar index declined rapidly and smashed series of successive support zones.

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Canadian Overnight Rate; Comparative Growth Outlook for Moderate Policy Rate and Canadian Dollar Gains.

Overnight Rate is the interest rate in which the major financial institutions in Canada borrow and lend overnight funds among themselves.

For decades, the Bank of Canada has used the interest rate as a strong driver towards attaining its policy objectives. The three of Its core monetary policy goals are maximum employment, Price Stability and Moderate long-term interest rates.

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