This Wednesday will be heaven for day traders. A considerable number of events will make the market volatile. Don't miss it!
NZD will be driven by RBNZ
What will happen?
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT. The central bank will announce its policy decision. Last time, it held its official cash rate at a record low of 0.25% during its February meeting and left the asset purchases unchanged. However, some were expecting the RBNZ to shift to a more hawkish stance – raise rates or decrease asset purchases. Who knows, maybe it will be the case this time.
How to trade on RBNZ’s statement?
- If the RBNZ is hawkish, the NZD will rise.
- If the RBNZ leaves everything unchanged and its tone is optimistic, the NZD may gain.
- If the RBNZ gives negative economic projections, the NZD may drop.
Instruments to trade: NZD/USD; NZD/CAD; NZD/JPY: AUD/NZD
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.