NZD/USD has corrected from fresh highs as markets eye the RBNZ this week. The optimism of a fast recovery from the deepest recession in decades has buoyed the bird. NZD/USD is currently trading at 0.6758 in a quiet start to the week in Asia, oscillating between a low of 0.6752 and 0.6768. With an upside correction in the greenback, NZD/USD has been scaled back since reaching a new high for the year on Friday at 0.6797. The northerly trajectory has been mostly down to weakness in the greenback which has otherwise masked the vulnerabilities in the currency pertaining to the deepest recession in decades. The strict measures in response to the COVID-19 pandemic have led to the country’s Gross Domestic Product shrank by 12.2% between April and June as the lockdown and border closures hit. However, helping the currency on its way to the new highs last week, Finance Minister Grant Robertson said the GDP numbers were better than expected and suggested a strong recovery ahead. “Going hard and early means that we can come back faster and stronger,” he said. There are also predictions of a swift recovery, because of New Zealand’s strong response to the virus from analysts at Westpac “We expect the June quarter’s record-breaking GDP decline to be followed by a record-breaking rise in the September quarter,” said Westpac’s Senior Economist Michael Gordon. Eyes on RBNZ The main focus at this juncture is with the Reserve Bank of New Zealand with the Policy Review scheduled for this Wednesday. We don’t expect any change on policy, but the tone will be dovish and they may signal an intention to flex the pace of the LSAP more to help flatten the curve, which would take pressure off the NZD, analysts at ANZ bank wrote. NZD/USD levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI buyers attack $41.00 amid US-Iran tension, escalating virus woes FX Street 2 years NZD/USD has corrected from fresh highs as markets eye the RBNZ this week. The optimism of a fast recovery from the deepest recession in decades has buoyed the bird. NZD/USD is currently trading at 0.6758 in a quiet start to the week in Asia, oscillating between a low of 0.6752 and 0.6768. With an upside correction in the greenback, NZD/USD has been scaled back since reaching a new high for the year on Friday at 0.6797. The northerly trajectory has been mostly down to weakness in the greenback which has otherwise masked the vulnerabilities in the currency pertaining to the deepest recession in decades. The strict measures in response… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.