New Zealand RBNZ Interest Rate Decision meets expectations (2.75%)
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Oct 28, 2015
Gold retreats sharply and hits 2-week lows after Fed
Gold prices rallied ahead of the event of the day, the US Central Bank decision, with spot gold reaching a daily high of $1,182.90 a troy ounce before retreating sharply. The commodity plummeted down to a fresh 2-week low of $1,152.23 after the Fed left the door open to a December rate hike.
NZD/USD was mixed after the RBNZ unchanged 2.75% further easing seem likely and a rate cut depends on emerging data flow. Initially the bird jumped on the release as a cut was priced in, but then supply took over again while the RBNZ also jawboned the bird by suggesting the sustained Kiwi dollar rise would require a lower rate path.