The New Zealand interest rate is announced on Wednesday at 03:00 MT time.
A chance to trade the Japanese currency
The Bank of Japan will make its monetary policy statement and announce the interest rate on March 15. The bank won’t change its interest rate, but the comments by the bank of Japan governor Haruhiko Kuroda may shake the JPY. During the previous month, the BOJ governor threw hints on further monetary policy easing. This dovish outlook made the JPY suffer. Let’s see where the central bank will drive its currency.
• If the BOJ is hawkish, the JPY will move up;
• If the BOJ is dovish, the JPY will move down.
The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!