The New Zealand dollar stabilized Monday ahead of Federal Reserve’s meeting this week and the gross domestic product data in the second quarter.
A Bloomberg survey unveiled half the analysts are predicting a move. Also, the poll implied the outcome of the Federal Open Market Committee’s meeting could ignite a sharp move in markets.
The kiwi was slightly changed at 55.60 euro cents from Friday’s 55.64 euro cents, 63.02 US cents from 63.13 US cents, and 40.83 British pence from 40.90 British pence.
This is a significant week for markets, with a likelihood interest rates might increase for the first time since 2006. The market is “pricing the odds of a lift-off at less than one-third,” said Raiko Shareef, Strategist at Bank of New Zealand.
Meanwhile, New Zealand’s GDP will be released Thursday.
The material has been provided by InstaForex Company – www.instaforex.com