NZDUSD: RBNZ On The Way

The Reserve Bank of New Zealand will likely give the Kiwi a boost of volatility in the upcoming Asia session with its latest statement on monetary policy. Expectations are for no change this month as recent economic data has been net positive, and as they wait to see the full extent of damage the COVID-19 is set to do to the world economy. The scenario to watch out for is a more dovish-than-expected RBNZ and reversal pattern back to the downtrend after the event for the bearish market. For the bullish bias, any rhetoric lowering the odds of a potential rate cut this year will likely draw in buying support for the Kiwi, at least for the short-term as recent sessions have shown global positive risk sentiment as the main driver for the financial market. One news which might have earlier sparked some volatility on comdolls could be "WHO's Tedros, the first vaccine for COVID-19 (coronavirus) could be ready in 18 months".