Gold’s pull back from 2070.06 picks up momentum today. The break of 1960.83 minor support should confirm short term topping, after initial rejection by 2074.84 high. Deeper decline is now expected as long as 2008.87 Read more…
New Zealand BNZ Performance of Services Index rose slightly from 46.0 to 48.6 in February. Activity/sales rose from 44.6 to 50.7. Employment dropped from 47.0 to 45.0. New orders/business rose from 41.2 to 53.6. Stocks/inventories Read more…
In the minutes of March 1 meeting, RBA reiterated that it will not hike cash rate “until actual inflation is sustainably within the 2 to 3 per cent target band. Now, it was “too early to conclude that” Read more…
The Minutes of the March RBA Board meeting are consistent with the Governor’s decision statement – emphasising increased uncertainty due to the war; the policy of patience; scepticism about the pace of lift in wages Read more…
Hybrid – 1 March 2022 Members participating Philip Lowe (Governor and Chair), Guy Debelle (Deputy Governor), Mark Barnaba AM, Wendy Craik AM, Ian Harper AO, Carolyn Hewson AO, Steven Kennedy PSM, Carol Schwartz AO, Alison Read more…
For the two months of January and February, China industrial production grew 7.5% yoy, well above expectation of 3.9% yoy. That’s the fastest pace since June 2021. Retail sales rose 6.7% yoy, also well above Read more…
It seems unlikely that Jerome Powell and Company will rock the boat dramatically this week, but the US dollar could still gain ground – see why! When is the Fed meeting? The FOMC’s March monetary Read more…
As is often the case, Thursdays New Zealand’s quarterly GDP release follows hot on the heels of the FOMC meeting and a few hours before Australia’s monthly jobs data, likely making for a volatile session Read more…
Key Highlights GBP/USD extended decline and tested the 1.3000 support zone. A key declining channel is forming with resistance near 1.3140 on the 4-hours chart. EUR/USD is facing a strong resistance near 1.1050 and 1.1080. Read more…
Global recovery to support a US dollar downtrend in 2022/23 as risks clear. To say that the past month has been tumultuous for global markets is clearly an understatement, with Russia’s invasion of Ukraine and Read more…