NZD/USD Treads Water after NZ Unemployment & Ahead of the US Fed
The pair covers most of the losses from the increase in New Zealand’s unemployment and lacks firms direction, as markets gear up for the monetary policy decision by the US Fed
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The pair covers most of the losses from the increase in New Zealand’s unemployment and lacks firms direction, as markets gear up for the monetary policy decision by the US Fed
USDOLLAR showed resilience over the last few trading sessions. Yesterday showed a crack. There is a risk of heightened dollar volatility.
Watch today’s US Open for insights on the upcoming central banks blitz, as the US Fed, the Bank of England and the European Central Bank announce their monetary policy decisions
Heading towards the Fed release on Wednesday a sense of caution prevails. Despite the market looking for a pivot, the Fed has maintained an aggressive stance.
The pair is on the back foot ahead of the monetary policy decisions by the US Fed and the European Central Bank, despite expectations for a more aggressive move by the ECB
Watch today’s US Open for insights on the latest earning by EV king Tesla, recent inflation surge in Australia, the technical Death Cross in USD/JPY and more
The BoC raised its overnight rate by 25bps to 4.5%. This was as expected and is regarded as the current cycle’s peak. The statement read that the central bank “expects to hold the policy rate at its current level.”
GBPUSD daily is trading in its bullish channel between the upper blue and red bands. The hourly chart also shows signs of positivity. Its trend-following EMAs and momentum-based stochastic have crossed up (black ellipses). If the EMAs develop angle and separation and the stochastic makes its way to its upper quintile and holds (blue arrow), an underlying bullish momentum will be present.
The pair showed signs of life as the BoJ did not build on December’s policy surprise, but the technical death cross and market optimism for a Fed pivot weigh on the greenback
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Australian inflation for the quarter came in higher than expected at 1.9% (1.6%). On an annualised basis, CPI was 8.4% (7.6%: forecast). The q/q and y/y numbers were also higher than their respective previous prints.
The Fed is in its blackout period prior to the 1 Feb FOMC statement and interest rate hike. This week started with a prevailing uncertain sentiment.
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