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Market Outlook

Kiwi Freefalls to 3 Month Low on Housing Affordability Measures

The biggest move today in Forex has come from the New Zealand Dollar. The New Zealand dollar is taking a beating as the government announces new measures to rein in the country’s booming housing market. The RBNZ will now be able to keep policy lower for longer, resulting in the Kiwi sell-off.

Elsewhere Germany is planning a five-day lockdown over Easter, while Britain’s prime minister has warned that a third wave of the virus is on the way.

The latest employment data from the United Kingdom has just been released, but the results have been mixed, and there hasn’t been much of a reaction in the markets.

Key economic events on the calendar for the remainder of the day include UK CBI Industrial Trends, the United States current account, several Fed speeches, U.S New Home Sales, Richmond Fed Manufacturing Index and Fed Chair Powell’s testimony.

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