NZD/CAD and BOC/RBNZ divergence on CPI
Saw the recent BOC rhetoric, definitely hinting at a more patient stance, especially with their internal projections for inflation cooling off. Compare that to the RBNZ, which seems a bit more hawkish, or at least less dovish, in their recent commentary. This divergence, even if subtle, is starting to create some interesting potential for the $NZDCAD pair. We've seen it drift lower today, currently at 0.82471. I'm keeping a close eye on the upcoming CPI prints from both countries; if the BOC gets further confirmation of easing price pressures and the RBNZ shows any stickiness, that could reinforce the current move. Not looking for any dramatic breaks yet, but the underlying narrative for a sustained move down seems to be building.