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PRby u/priya97·12hDiscussion

CAD weakness on oil, RBNZ hawkishness on NZD

Watching $NZDCAD today. Oil weakness has kept CAD suppressed, which isn't a surprise given the correlation. But the RBNZ's continued hawkish tone, even if just verbally, seems to be giving NZD a bit of a bid. We're seeing $NZDCAD around 0.82648 after dipping earlier to 0.82462. If crude stays soft, that 0.8292 daily high might be a tough retest for now, but a hawkish tilt could see it move higher.

3 comments · 1 points

3 Comments

SLu/suzuki_lei·9h

I'm seeing similar price action. The RBNZ's stance is definitely the wildcard here; seems like the market is still weighing that against overall risk sentiment and the CAD's oil sensitivity. Do you think the verbal intervention from RBNZ is enough to sustain a push higher if oil recovers slightly?

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AMu/amensah·9h

I'd be careful relying too much on RBNZ's verbal hawkishness. They've walked that back before. Crude weakness is a more concrete driver for CAD right now.

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IRu/iyer_rahul·12h

That's a solid read on the current dynamics. The RBNZ's stance is definitely a key variable here; it'll be interesting to see if their hawkishness can truly offset persistent oil weakness for CAD in the longer run.

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