Asia Shows its Strength as US Growth Prospects Dwindle
Asia Shows its Strength as US Growth Prospects Dwindle In Australia, the RBA was the focus of market participants’ attention. Outside the country, the RBNZ reaffirmed its hawkish resolve, while U.S. data weakened noticeably. The RBA decided to leave the key interest rate unchanged at 3.60% in April, a decision that was in line with […]
First Impressions: RBNZ Monetary Policy Review
First Impressions: RBNZ Monetary Policy Review The RBNZ raised the policy rate by an unexpectedly large 50 basis points, and another 25 basis point hike appears to be scheduled for the May Monetary Policy Statement. RBNZ Monetary Policy Report, April 2023 The Reserve Bank surprisingly raised the OCR by 50 basis points to 5.25% at […]
Australian Dollar Dips After RBA Leave Rates Unchanged
Australian Dollar Dips After RBA Leave Rates Unchanged The Australian Dollar slipped slightly in the aftermath of the RBA standing still on rates for the first time since May 2022. The RBA maintained some flexibility and didn’t rule out future hikes. In the accompanying statement on monetary policy, they said, “The Board expects that some […]
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 […]
5 Ways to Improve Your Technical Analysis Skills
5 Ways to Improve Your Technical Analysis Skills Technical analysis can sometimes be seen as a simpler approach to forex trading than fundamental analysis. But, to be honest, it does come with a bit of a learning curve. Many forex traders who are just starting out find it difficult to understand technical analysis. And it […]
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 […]
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 […]
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 […]
Gold Price Rallies As SVB Failure Casts Doubt for Fed Rate Hikes
Gold Price Rallies As SVB Failure Casts Doubt for Fed Rate Hikes The price of gold carves a series of higher highs and lows following the failed attempt to test the February low of $1805, and the failure of Silicon Valley Bank (SVB) may continue to heighten the appeal of bullion as market participants scale […]
The Week Head:- BOJ, RBA and BOC Meetings
The Week Head:- BOJ, RBA and BOC Meetings An exciting week for markets, with three major currency central banks announcing their monetary policy decisions and a Nonfarm payroll report. The RBA’s meeting on Tuesday is the most likely to be the live one, but don’t write off the BOJ’s ability of surprising market at Governor […]
EUR/USD Rebound Fizzles Ahead of 50-Day SMA
EUR/USD Rebound Fizzles Ahead of 50-Day SMA EUR/USD approaches the 50-day SMA as it extends the rebound from the February low 1.0533, but a slowdown in the Euro Area’s Consumer Price Index may drag on the exchange rate as it encourages the European Central Bank to winddown its hiking-cycle. The decline from the yearly high […]
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 […]
USD/JPY Regains Strength
USD/JPY Regains Strength USD/JPY climbed higher above the 132.50 resistance zone. A connecting bullish trend line is forming with support near 134.50 on the 4-hour chart. EUR/USD slowly moved below the 1.0620 support zone. The US GDP grew 2.7% in Q4 2022, less than the 2.9% forecast. The US Dollar gained strength for a steady […]
RBNZ Monetary Policy Statement Feb 2023
RBNZ Monetary Policy Statement Feb 2023 The Reserve Bank raised the official Cash Rate by 50 basis points to 4.75%, and maintained its projection of a 5.5% peak in the coming months. There was almost no change to the projected OCR track compared to the November policy statement. The OCR is still expected to peak […]
European Flash PMI’s and Canada Inflation Report
European Flash PMI’s and Canada Inflation Report Australia’s ASX 200 index fell by -12.7 points and currently trades at 7,338.80 Japan’s Nikkei 225 index has fallen by -37.31 points and currently trades at 27,494.63 Hong Kong’s Hang Seng index has fallen by -207.23 points and currently trades at 20,679.73 China’s A50 Index has fallen by […]
EUR/USD Recovery Attempt Could Face Hurdles
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 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 […]