Markets Yesterday’s RBA U-turn as it raised the policy rate by a bigger than expected 25 bpn inaugural rate hike, set the tone for global bond markets. European yields continued their journey north with the Read more…
NZDUSD is creating a bullish star doji on Tuesday after it dropped to a new 22-month low of 0.6410 and if the price heads higher, it could confirm a positive move in the short-term timeframe. Read more…
EUR/USD After the strong depreciation of the euro against the U.S. dollar from 1.0910 to 1.0520, the currency pair entered a consolidation phase in the narrow range of 1.0480 – 1.0565. During yesterday’s trading session, Read more…
The FTSE 100 rallies ahead of the BOE meeting on Thursday. A bullish RSI divergence could be a soothing sign for the bulls as it indicates a slowdown in the sell-off. A bounce above 7490 Read more…
The New Zealand dollar steadied after the Q1 jobless rate met expectations. The break below January’s lows at 0.6540 sent the kiwi into a free fall. On the daily chart, a bearish MA cross exacerbated Read more…
Daily Pivots: (S1) 0.7045; (P) 0.7097; (R1) 0.7146; More… Intraday bias in AUD/USD remains neutral as consolidation from 0.7029 temporary low is extending. Further decline is still expected as long as 0.7228 minor resistance holds. Read more…
Overall, the markets are pretty quiet as focuses turns to Fed’s rate hike and guidance today. Dollar is consolidating in tight range, preparing for the next move. For now, Aussie and Loonie are the stronger Read more…
Fed is widely expected to raise federal funds rate by 50bps to 0.75-1.00% today. With markets pricing in 99.1% chance of that, there is no reason for Fed to rock the boat. Also, Fed is Read more…
Australia retail sales rose 1.6% mom to new record AUD 33.6B in March, well above expectation of 0.5% mom. Over the 12-month period, sales rose 9.4% yoy. Director of Quarterly Economy Wide Statistics, Ben James, Read more…
New Zealand employment rose 0.1% qoq in Q1, matched expectations. However, total actual weekly hours worked dropped slightly by -0.2%. Unemployment rate was unchanged at 3.2%, slightly above expectation of 3.1%. Participation rate dropped -0.1% Read more…