Later today Tiff Macklem, the governor of the BoC (Bank of Canada) is expected to speak at the Riksbank's International Symposium as part of a discussion panel on 'Central Bank Independence'.
NZD/USD: bears are preparing an attack
2019-11-11 • Updated
SELL 0.7280 SL 0.7335 TP 0.718
SELL 0.7185 SL 0.7240 TP 0.7080
On the daily chart of NZD/USD, the inability of bulls to return the pair inside the uptrend channel points at their weakness. Kiwi approached the lower border of the 0.7185-0.7430 consolidation range. In case of the successful test of the support, the risks of decline to 0.7080 will increase.
On H1, the fact that NZD/USD reached the interim target at 78.6% of the “Shark” pattern increases the odds of its transformation into 5-0. Pullbacks to 38.2% and 50% of the wave CD should be used for selling.
If you've followed my analyses closely for a while now you'll already understand why I always look to the price action on the DXY (US Dollar) chart for clarity on how to approach trading the major pairs. Looking at the chart above, we see clearly the descending wedge leading price off right into the PIVOT demand zone
The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone. My expectation of a springing rebound off the demand zone has not exactly played out yet, however, the zone remains unbroken.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.