Jerome Powell Attends Supreme Court Hearing on Trump Effort to Fire Fed Governor, Calling It Historic 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
BOJ Holds Interest Rates Steady, Upgrades Growth and Inflation Outlook for Japan 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
NZD lost its shine after a surprise dovish rate cut. It declined sharply to 0.60040 and is currently trading around 0.60054.
The Reserve Bank of New Zealand (RBNZ) cut rates by 25 bps to 5.25% from 5.50% today. The central bank’s new economic projection indicates a possibility of another rate cut this year and 100 bpbs in 2025.
Annual CPI inflation is projected at 2.4% by Sep 2025 vs 2.2% previous.
The near-term support is around 0.59970, any break below will drag the pair to 0.5970/0.5940.
On the higher side, immediate resistance is 0.60230 any breach above targets 0.6350/0.60440.
It is good to sell on rallies around 0.60250 with SL around 0.6050 for a TP of 0.5945.
