New Zealand Cash Rate will define the fate of NZD!
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.
Turkish lira continues to weaken
Yesterday, Turkey's election authorities canceled the results of the municipal election after a win of the opposition CHP party. The decision was made after several attempts by the current president Recep Tayyip Erdoğan to recount the result of the elections. It provoked streets riots in Istanbul. Such political instability pulled the Turkish lira down.
At the moment, USD/TRY is targeting the resistance at 6.2. If the lira gains back strength, the pair will fall back to the support at 5.99. If this level is broken, the next key support will lie at 5.94. From the indicators' picture, ADX shows that the bullish market is overheated and RSI is moving within the overbought zone. If it leaves this zone, it may bring a selling opportunity.
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Latest news
Will USD Stop Falling Today? Market Wrap
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Major Event Alert: Canadian Retail Sales
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
Weekly US employment: a chance for the USD
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
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