The New Zealand dollar remained steady with little alteration. Speculations are on the policy review by Reserve Bank of Australia tomorrow and on the US employment data which shall come in later this week.
The focus remains on the speech by the Governor of RBA, Glenn Stevens on the Australian dollar. Further, it is expected that the RBA will retain the target cash rate at 2.5 % after the analysis of the monetary policy tomorrow.
The kiwi dollar remains the favorite among traders with the currency speculating a 5% gain over the greenback. Backed with the country’s robust economy and the increased interest rates by Reserve Bank, New Zealand Dollar will show some high this week. Adding to the positive business confidence are the economic figures showing better business and employment confidence together with the growth in new housing with more building permits by the government.
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