We now expect the RBNZ to cut the OCR by 50bps to 4.75% at the October Monetary Policy Review. We also expect another 50bps cut to 4.25% at the November Monetary Policy Statement. The projected step up in the pace of easing in October is a more finely balanced decision (perhaps a 60% probability) whereas […]
The post RBNZ: What Are You Waiting for? OCR to be Cut 50bps in Both October and November appeared first on Action Forex.
Daily Pivots: (S1) 1.3467; (P) 1.3504; (R1) 1.3526; More… USD/CAD’s recovery lost momentum after breaching 55 4H EMA (now at 1.3514). But intraday bias stays neutral first, as more consolidations could be seen above 1.3418. Read more…
Global markets are showing mixed performance as sentiment diverges across regions. In the US, stocks closed lower with traders displaying increased caution. ISM manufacturing report indicated continuation of the prolonged recession in the sector, though Read more…
Key Highlights AUD/USD faced resistance near 0.6940 and started a downside correction. A key bullish trend line is forming with support at 0.6880 on the 4-hour chart. Gold could rise again and trade toward the Read more…