SaxoTV

What I expect the FOMC and RBNZ to do: Hardy

455 views
April 27, 2016 fed, fed meeting, federal, federal policy meeting, federal reserve, federal reserve rate hikes, federalreserve, fomc, fomc meeting, fomc minutes, john hardy, john hardy forex, john hardy saxo bank, nzd, nzdusd, rbnz, saxo, saxo bank, saxo bank saxo tv, saxo bank trading floor, saxo bank tradingfloor.com, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor.com, saxotrader, saxotradergo, saxotv, trading, tradingfloor.com, us, usd
Saxo Bank’s head of FX strategy John Hardy looks at issues affecting today’s meetings of the United States’ Federal Open Market Committee and the Reserve Bank of New Zealand.

The Fed is expected to leave its rate unchanged in a range of 0.25% to 0.50% and there is no expectation of significant action.

But Hardy says there has been a strong market recovery since FOMC's March meeting which may lead to a rally by the US dollar.

The action of the RBNZ is less predictable with Hardy saying that NZDUSD could move back toward the 0.70 area. Markets are divided over whether New Zealand’s central bank will hold or lower its official cash rate following last month's surprise cut to a record-low 2.25%.