IC Markets’ Post

Trade Opportunity 🎯 The Reserve Bank of New Zealand is set to update the market on their latest rate call this morning in the Asian trading session and traders are expecting to see moves in the currency around the event... Read more 👇

The Kiwi is the 2nd worst-performing G10 currency (after JPY) against the US dollar in 2023. But is it about to hit a new year-to-date low? - New Zealand recession has dragged Kiwi lower - RBNZ set to keep Cash Rate unchanged next week - USD pairs await US economic data, FOMC minutes, Fed speak - NZDUSD may see technical rebound, likely to trade between 0.5913 – 0.6119 📖 For more on NZDUSD and where it could trade this week, click here: https://lnkd.in/eGWnp8EZ

NZD witnesses a quick decline as we approach this week’s central bank decision & press conference. 📉 NZD falls 0.50% within the first three hours of trading and 0.65% against GBP. Investors voice concern over the struggling New Zealand economy while inflation remains higher than other regions 🛑 Economists advise RBNZ to opt for a “harsh” landing scenario to bring inflation down to its 2% target. 📉💰 Oil drops to lowest since Feb 15th after investors price in a delayed interest rate cut. After Oil’s strong decline Friday, the price is trading below most Moving Averages such as the 75-Bar-EMA and below 50.00 on the RSI. In addition, most timeframes show a downward crossover and the price trades below the Volume Weighted Average Price. ⛽📉 US Oil declines after the EIA recorded an increase in oil reserves of 3.5 mln barrels. The higher level of supply can continue to pressure quotes if demand falls. ⛽💰 The US Dollar Index trades 0.12% lower during the Asian Session and so far, continues to maintain a “sell signal”. 💵📉 https://lnkd.in/d9phP4X5 #hfm #marketanalysis

#Newzealand #Aussdie #Chinatown #Shifts #Bearish #Nogains #Data New Zealand Dollar (NZD) Dulled by Lack of Data With little data to go on, the New Zealand Dollar (NZD) struggled to attract support during Wednesday’s session. The bearish market impulse dragged NZD exchange rates lower as investors sought safer currencies. Economic data remains scarce for the ‘Kiwi’ today, which could leave the risk-sensitive currency exposed to shifts in risk appetite. Could a turn to bullish trade lift NZD exchange rates? Australian Dollar (AUD) Loses Inflation Gains amid Bleak Market Mood Hotter-than-forecast inflation data allowed the Australian Dollar (AUD) to start strongly during yesterday’s trade. However, the risk-sensitive ‘Aussie’ was unable to consolidate these gains, and lost ground as the market mood soured. The Australian Dollar may see volatility this morning, as investors react to Reserve Bank of Australia (RBA) Governor Michele Bullock’s speech.

Seeing some speculation that BI may be forced to hike rates in the near term after the IDR slid past 15900. The IDR is down 1.4%, the 3rd worst performing currency in the region. Thus we can say that talk of a potential reversal in stance may be warranted. Back in October 2023, the BSP carried out an emergency rate hike. The PHP however was under hardly any pressure, was even the 4th best performing currency in the Asian FX pack. Thus we can say that perhaps there was very little pressure for the PHL central bank to shift gears into further tightening. One key factor cited for the hike was the need to "anchor inflation expectations". Which begs the question, do rate hikes really impact inflation expectations of consumers? Like, will the general public believe that inflation is under control because the BSP hiked rates? Personally i don't think so.

Asian currencies remained largely stable, with the New Zealand dollar experiencing a decline following dovish comments from the Reserve Bank of New Zealand (RBNZ), indicating a cautious approach towards future rate hikes. Meanwhile, the U.S. dollar held steady after Federal Reserve Chair Jerome Powell reiterated a commitment to controlling inflation, hinting at the possibility of further interest rate increases if necessary. Powell's remarks reinforced the dollar's strength amid ongoing global economic uncertainties and the Fed's focus on achieving its inflation targets. JKV Global Markets Ltd. www.Jkvglobal.com #jkvglobal #forextrading #tradingcompany #forex #forextrader #forextrading #forexsignals #forexlifestyle #forexlife #forexmarket #forexsignal #forextrade #tradeforex #forexprofit #forexmoney #forexeducation #forexsignalservice #india #uae #forexnews

🔔 Market Update - 28 February 2024: Today, the New Zealand Dollar (NZD) faced significant selling pressure following the Reserve Bank of New Zealand's (RBNZ) policy announcements. Meanwhile, the US Dollar saw a modest recovery as investors awaited the second estimate of the annualized fourth-quarter Gross Domestic Product (GDP) growth. The European economic calendar highlights business and consumer sentiment data, while comments from Federal Reserve (Fed) policymakers will be closely monitored later in the American session. 🔑 Key Highlights: 🇳🇿 RBNZ kept the Official Cash Rate (OCR) unchanged at 5.5% but lowered the peak cash rate projection to 5.59% in June 2024. NZD/USD declined sharply, losing over 1% to 0.6103 during the Asian trading hours. 🇺🇸 The benchmark 10-year US Treasury bond yield edged higher before stabilizing below 4.3%. 🇦🇺 AUD/USD traded deep in negative territory after Australia's CPI held steady at 3.4% in January. 🇪🇺 EUR/USD continued its downward trend toward 1.0800, while the Japanese Yen remained near weekly lows against the USD. 🇬🇧 GBP/USD started the European session lower, dropping toward 1.2650 following Tuesday's indecisive action. 🛢️ Gold retreated to the $2,030 area after meeting resistance near $2,040 on Tuesday. [email protected]

New Zealand Dollar Ahead of Fed Rate Decision; NZD/USD, AUD/NZD, EUR/NZD Price Setups The New Zealand dollar is holding its recently established ranges against some of its peers. What is the outlook for NZD/USD, AUD/NZD, and EUR/NZD?

Rand extends selloff in downbeat trade The rand extended its losses on Wednesday, weakening as much as 1.4% against the US dollar to open this morning at 19.18/USD. Just like other risk-sensitive currencies, in the absence of local market moving data, the rand is often swayed by global factors like US monetary policy, which explains the ZAR losses seen this week. In addition, a hawkish Federal Reserve has kept alive the possibility of another rate hike before the end of the year, resulting in investors turning away from riskier currencies and strengthening USD. There’s not much on the calendar for the rest of the week, besides local Producer Price Inflation data (which will shed some light on the health of the South African economy) and US GDP figures out later today, followed by inflation figures out of the Eurozone tomorrow That’s it for today…have a terrific Thursday! Latest Rates: USD/ZAR 19.2163 GBP/ZAR 23.3799 EUR/ZAR 20.2119 AUD/ZAR 12.2548 NZD/ZAR 11.4278 CHF/ZAR 20.9121 SGD/ZAR 14.0161

Today's highlights: - The Australian Dollar is unable to gain due to lower commodity prices - German industrial production fell by 1.5% in June - Macroeconomic data releases today: AU Westpac & NAB consumer & business survey, China & US Trade balance figures USA On a calm Monday, the Australian Dollar experienced a slight increase in value, but it couldn't surpass the critical 0.6600 support, which has now become a resistance level. As a result, it ended the day nearly unchanged against the Dollar. At the same time, the NZDUSD pair also traded sideways, hovering around 0.6105. The recent discouraging employment figures in the United States had a negative impact on the Dollar. This prompted financial markets to anticipate that the Federal Reserve might postpone any interest rate hikes in September and instead opt to assess the economic situation further. As a result of improved risk sentiment, the U.S. Dollar declined overnight. Europe AUDEUR closed 0.1% higher, driven by mixed data that exerted pressure on the Euro. While Germany reported a 1.5% decline in industrial production for June, the Eurozone's Sentix Investor Confidence showed improvement, rising to -18.9 from -22.5. Currently, the likelihood of the European Central Bank (ECB) raising interest rates in September stands below 50%. However, there has been an increase in the odds, reaching 60%, for a rate hike in the October meeting. UK The Australian Dollar declined by 0.25% against the Pound, as improved risk sentiment favored the Pound. This week's economic calendar from the UK is relatively light, except for the Q2 GDP figures scheduled to be published on Thursday. #australia #uk #newzealand #usa #interestrate #dollar #sterling #finance #money #forex #trading #price #business #currency #globaltrade #investment #investing #stockmarket #wealth #realestate #markets #economy #shillingscapital #willbanks #tickernews #apacnetwork