Economic News Category

EUR/USD Recovery Attempt Could Face Hurdles EUR/USD traded as low as 1.0612 and is currently correcting losses. A key bearish trend line is forming with resistance near 1.0685. GBP/USD is struggling below the 1.2120 resistance zone. Gold price is attempting an upside break above the $1,840 resistance. The Euro remained in a bearish zone below

NZD/USD Fails to Push Back Above 50-Day SMA NZD/USD appears to be stuck in a narrow range as it holds above the weekly low, but the exchange rate may struggle to retain the advance from the January low as it fails to trade back above the 50-day SMA. Unlike the price action in January, NZD/USD

Powell Continues to be “Less Hawkish” Fed Chairman Powell continued with his less hawkish commentary today. He started by noting once again that the disinflationary process has started, but it will be bumpy. He also noted that it will be a long process. As a result, the US Dollar initially sold off while stocks moved

25bp Hawkish Hike from the RBA The RBA hiked the cash rate target by 25 basis points to 3.35% Underlying inflation was above expectations to 6.9% Strong domestic demand is adding to the inflationary pressures CPI is expected to decline this year due to global factors and slower growth in domestic demand Medium-term inflation expectations

RBA Expected to Hike by 25bps The RBA are expected to rise interest rates by 25 bp to 3.35% tomorrow, which would take rates to their highest level since September 2012. If so, it would be their fourth consecutive 25bp hike and ninth back-to-back hike this cycle – which is their most aggressive in history.