What drives the market on July 8?
The market takes breath after the long rally. What opportunities do traders have today?
NZD in focus of traders’ attention
The Reserve Bank of New Zealand will make the monetary policy statement on June 24 at 5:00 MT time.
Instruments to trade: NZD/USD, NZD/CHF, NZD/JPY
The monetary policy statement is the primary tool the RBNZ uses to communicate with investors. Authorities unveil their decision on interest rates and set guidelines for the economic development. In the middle of March, the RBNZ cut its interest rate to the record low of 0.25%. This time analysts highly expect that rates won’t be changed. It will be more important to know what economic outlook the RBNZ will give and what measures it will take to support the economic recovery.
- If the RBNZ eases its policy, the NZD will weaken;
- If the RBNZ keeps the policy unchanged, the NZD will strengthen.
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The US labor market is in focus again
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
How to trade on July 7?
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Latest news
Risk-on is back. Market news and trade ideas on July 9
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
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