NZD is Experiencing Challenges with Forecasts
Reserve Bank of New Zealand will likely deliver up to two interest rate hikes before the end of the year and many more news!
AUD/USD: trend turns down
2019-11-11 • Updated
Technical levels: support – 0.7570; resistance – 0.7620.
Trade recommendations:
1. Sell — 0.7590; SL — 0.7610; TP1 — 0.7540; TP2 — 0.7520.
Reason: narrowing bullish Ichimoku Cloud, falling Senkou Span A, the mood of a Cloud will be changed soon; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the prices are going to the negative area.
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On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
Will the FOMC Surprise the Markets?
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
What awaits the Oil Market in February?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
