Strong bearish started to be seen on NZDCHF Daily after a few days of downward breakout from the support area.
This is supported by the expectation of the SNB to leave negative interest rates, Forecasts suggest the SNB will raise interest rates from -0.25% to 0.5% on the 22nd of this month. Before the SNB rate change CHF already looked strong due to the buy the rumors movement.
While New Zealand is on the brink of recession, the CPI figures released seemed to worry the market. The New Zealand government moved to offset some inflationary pressures by extending the duration of cuts to fuel excise taxes, road user fees and public transport fares.
This is supported by the expectation of the SNB to leave negative interest rates, Forecasts suggest the SNB will raise interest rates from -0.25% to 0.5% on the 22nd of this month. Before the SNB rate change CHF already looked strong due to the buy the rumors movement.
While New Zealand is on the brink of recession, the CPI figures released seemed to worry the market. The New Zealand government moved to offset some inflationary pressures by extending the duration of cuts to fuel excise taxes, road user fees and public transport fares.
