Reserve Bank of New Zealand (RBNZ) will reveal Official Cash Rate and make a statement about monetary policy on October 6, 04:00 GMT+3.
Market updates on November 26
- The euro is in the sideways movement currently. On the H1 chart of EURUSD, the support level of 1.1004 formed on Monday has been approached this morning. However, the Parabolic SAR indicates there is a potential for the upwards move. In this case, the resistance levels of 1.1020 and 1.1029 may be placed for the bulls. An additional support level may be located at 1.0988 for the bearish scenario.
- The US dollar shows a potential for a decline against the Japanese yen. On the H1 chart of USDJPY, the Parabolic SAR is indicating a recently started bearish trend. The RSI has crossed the 70% upside-down at the same moment when the price bounced down from the upper line of the Bollinger Band. If the bearish move continues, it will have the support levels of 108.91 and 108.84 on its way. Otherwise, the resistance levels may be placed at 108.99 and 109.08
- NZDCAD has been trading at the resistance level of 0.8547, reached this morning. The Stochastic Indicator shows the fast line crossing the slow one upside-down within the overbought zone. This means the price is very likely to continue dropping. For this scenario, the support levels of 0.8526 and 0.8510 may be placed. For the bulls, an additional resistance level may be located at 0.8563.
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?