
Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.
2019-11-11 • Updated
The kiwi dollar jumped to 0.7050 on Wednesday after Fed’s officials refused to accelerate the current pace of the monetary tightening. Towards the end of the past week, there was a pullback towards 0.6970. New Zealand’s annual growth rate slowed further despite surging immigration, low borrowing costs and evident activity in the housing sector. This casts doubt on the latest central bank’s projection that growth would accelerate to more than 4% by the second half of 2017.
The main focus of the next week will be on the Reserve Bank of New Zealand monetary policy meeting on Thursday. Most analysts expect the central bank to stay on hold adopting a wait-and-see approach. Ahead of the meeting, we will get an update of global dairy prices. Then we will be waiting for Thursday’s Fed Chair Yellen speech followed by the comments on the US economic outlook from other FOMC members.
The technical outlook for the pair is neutral. NZD/USD might spend a few days in the consolidation phase before facing rather sturdy resistances at 0.7050 (38.2% Fibo retracement level from last year low), 0.7120 and 0.7140. A pullback below 0.6940 would indicate that the immediate upward pressure has eased and the way towards the next support at 0.6915 (50% Fibo retracement level) is open.
Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.
After multiple hawkish remarks over the past few days from non-voters members, the Federal Reserve chairman Powell surprised the markets with some dovish remarks…
Institutional investors speak about further growth in the stock market. In the exact market that has doubled since COVID-19 and doesn’t plan to stop. Is it possible?
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.