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Is the NZDJPY set for further gains post-high New Zealand inflation?

Is the NZDJPY set for further gains post-high New Zealand inflation?

Is the NZDJPY set for further gains post-high New Zealand inflation?

in Seasonal Insights

New Zealand Q3 inflation has risen at its fastest pace in 10 years with the latest release to start the FX week. The annual inflation rate moves up to 4.9% from 3.3% in the second quarter. This has caused the New Zealand bond yield to rise sharply higher as expectations now increase for a 50 bps rate hike at the next RBNZ rate meeting, Will this help lift the NZDJPY pair even further?

Over the last 10 years, the NZDJPY has risen eight times between October 18 and December 01. The average gain has been + 3.33%. The largest gain was +09.29% in 2020 and the largest loss was -4.44%.

Major Trade Risks: The main risk to this trade is if risk-off trading sends safe-haven flows into the JPY.


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Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

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