NZ Consumers Price Index
NZ Consumers Price Index Consumer prices rose 1.2% in the March quarter and are up 6.7% over the past year. The March result was below our forecast, and much lower than the RBNZ’s expectation. New Zealand consumer prices rose 1.2% in the March quarter, with prices up 6.7% over the past 12 months. Today’s result […]
Bank of Canada to hold rates steady
Bank of Canada to hold rates steady Bank of Canada (BoC) is widely anticipated to maintain its pause this week, leaving interest rates unchanged at a 15-year high of 4.50%. Governor Macklem has emphasized that there’s no need for additional rate hikes if the economy unfolds according to central bank’s projections, which forecast stalling growth […]
EUR/USD struggles to reach yearly high ahead of NFP report
EUR/USD struggles to reach yearly high ahead of NFP report EUR/USD is struggling to test the yearly high (1.1033) as it fails to continue the series of higher highs and lows from the beginning of the week, and the U.S. labour market data (NFP) report may weigh on the exchange rate as employment is expected […]
The 5 Major Currency Pairs in Forex Market
The Importance of Major Pairs The foreign exchange market is a place where trading in all currencies takes place. However, the volume of trade that takes place in different currencies varies greatly. Although there are hundreds of currencies in the world, about two-thirds of the massive $4 trillion foreign exchange trading volume is transacted in […]
US Takes Center Stage in this Holiday-Shorted Week
US Takes Center Stage in this Holiday-Shorted Week The steep decline in strength costs over the previous few months prompted March headline inflation in Europe to decline considerably year-over-year (from 8.5% to 6.9%). Rising core inflation and excessive m/m readings on the other hand confirmed that this is solely the effortless phase in the lengthy […]
How to Become a Crypto Trader
How to Become a Crypto Trader As a traditional stock or forex trader, or as a new trader, you may feel left out of the thriving topic of trading cryptocurrency CFDs. While cryptocurrencies are becoming a major topic in the financial world, now is a good time to set the necessary steps on how to […]
Australia February Monthly CPI Indicator
Australia February Monthly CPI Indicator The Monthly CPI indicator rose 6.8% in the year to February, compared with the Westpac forecast of 7.4% year-on-year and the market forecast of 7.2% year-on-year. This represents a significant downside risk to our March forecast CPI forecast of 1.5% per quarter. Specifically, the index rose only 0.2% in February […]
GBP/USD Eyes Sustained Increase Above
GBP/USD Eyes Sustained Increase Above GBP/USD is showing positive signs above the 1.2220 level. A connecting bullish trend line is forming with support at 1.2240 on the 4-hours chart. EUR/USD is well supported above the 1.0720 support zone. USD/JPY might attempt a recovery wave if it clears the 132.00 resistance. GBP/USD The British Pound gained […]
EUR/USD Approaches Key Support, Dollar Could Resume Losses
EUR/USD Approaches Key Support, Dollar Could Resume Losses EUR/USD started a downside correction from the 1.0930 level. It traded below a key bullish trend line with support at 1.0810 on the 4-hours chart. GBP/USD is consolidating gains above the 1.2200 support zone. USD/JPY extended losses below the 130.50 support zone. EUR/USD The Euro started a […]
RBA Board opens the door to a pause in April
RBA Board opens the door to a pause in April The Minutes emphasize a high degree of uncertainty; do not take into account the global banking disruptions; and point to a pause in April. The Minutes of the Reserve Bank Board meeting on March 7 highlight that unlike recent meetings when several policy options were […]
Cautious Trade to start the week, EUR/AUD Focused
Cautious Trade to start the week, EUR/AUD Focused Australia’s ASX 200 index fell by -96.3 points and currently trades at 6,898.50. Japan’s Nikkei 225 index has fallen by -360.97 points and currently trades at 26,972.82. Hong Kong’s Hang Seng index has fallen by -534.15 points and currently trades at 18,984.44 China’s A50 index has fallen […]
ECB Hike 50bps but Euro Slips
ECB Hike 50bps but Euro Slips Dovish rate hike by ECB EUR falls across the board Attention turns to Lagarde at ECB presser The ECB had set itself up to disappoint some market participants after talking up 50 basis points. As it turned out, and despite all the troubles in the banking sector, it stuck […]
AUD/USD Rate Outlook Mired By Failure To Test
AUD/USD Rate Outlook Mired By Failure To Test AUD/USD appears to be reversing course ahead of the 200-Day SMA as it fails to clear the week high, but data prints coming out of Australia may prop up the exchange rate as job growth is expected to rebound in February. AUD/USD largely mirrors the weakness across […]
Sentiment Improves as China Data Boosts Hopes of 5% Growth
Sentiment Improves as China Data Boosts Hopes of 5% Growth China’s banks lent a record 4.9 trillion yen in January as the economy reopened from lockdowns. And there was some anticipation to see whether the new loans were making their way through the economy to aid the governments GDP target of around 5% this year. […]
Preview of NZ Q4 GDP
Preview of NZ Q4 GDP The expectation is 0.2% fall in GDP for the December Quarter, following two quarters of extremely strong growth. This does not necessarily mark the start of a recession. GDP data has been choppy since Covid, and the details don’t tell a consistent story about whether monetary policy is biting. Nevertheless, […]
EUR/USD Takes Out February Low Ahead of US Jobs Report
EUR/USD Takes Out February Low Ahead of US Jobs Report EUR/USD takes out the February low following the failed attempts to trade back above the 50-day SMA, and developments coming out of the US may keep the exchange rate under pressure as the NFP report is anticipated to show another rise in employment. EUR/USD fails […]
GBP/USD Fed Chair Jerome Powell
GBP/USD Fed Chair Jerome Powell Fed Chair Jerome Powell acknowledged that the pace of quarter-point interest-rate increases is not set in stone, and a faster tightening of rates may be warranted if economic data indicates it is necessary. Powell’s follow-up testimony tomorrow will be his last scheduled public remarks on interest-rate policy before the Fed’s […]
EUR/USD slides further as the Dollar gains steadily
EUR/USD slides further as the Dollar gains steadily EUR/USD extended its decline below the 1.0600 support. A key bearish trend line is forming with resistance near 1.0580 on the 4-hours chart. GBP/USD could dive if it breaks the 1.1920 support. Gold price is at risk of a move below the $1,800 support. The Euro started […]