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New Zealand's Interest Rate Hikes This Week Is Already A Market Consensus / A Weaker U.S. Dollar Helps The Precious Metals Rebound

New Zealand's Interest Rate Hikes This Week Is Already A Market Consensus

In New Zealand, facing high local inflation, a hot property market, and unemployment rate returning to pre-epidemic levels, it is basically the market consensus that the Bank of New Zealand will raise interest rates this week. The market not only expects the Bank of New Zealand to have the opportunity to raise interest rates this week, once the rate hike is implemented, the market also estimates that the Bank of New Zealand will launch its interest rate hike cycle and increase it before the end of the year. With the current official interest rate of 0.25%, the Bank of New Zealand has a real chance to raise interest rates twice this year, that is, by the end of the year, its interest rate will have a chance to increase to 0.75%. At that time, it is expected to bring some appeal to the New Zealand dollar.

A Weaker U.S. Dollar Helps The Precious Metals Rebound

The price of silver bounced to the $23.69 level and is currently in the shock zone waiting for further signal guidance. The sharp drop in consumer confidence data released by the United States last Friday eased the continued pressure from the Fed’s hawks and the spread of the new crown Delta variant virus, which once again dampened investors’ optimism about the prospects for economic recovery. The dollar fell back to the 92.532 level with shocks and respite. After the silver price rises, it is preparing to test the key resistance level of 23.80 US dollars. If gold can continue to rise steadily, it is expected to form an upward posture against silver and other precious metals.

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