Fundamental Analysis – Action Forex

NZD Tumbles As RBNZ Turns Dovis

Orbex — Wed, 27 Mar 2019 09:30:30 +0000

The New Zealand dollar traded 1.5% lower today after the overnight session showed that the RBNZ was likely to cut interest rates in the near term. The central bank left the official cash rate unchanged at 1.75% at today’s meeting. Meanwhile, the market sentiment improved on Tuesday after the Treasuries gave back the gains easing […]

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Another Central Bank Turns Dovish

ForexTime — Wed, 27 Mar 2019 09:25:25 +0000

The Reserve Bank of New Zealand (RBNZ) is the latest central bank to join the global trend of taking a Uturn. It was only last month when RBNZ Governor Adrian Orr said the risk of cutting rates hasn’t increased. His statement on February 13 sent the writing to the lowest level since March 11.New Zealand […]

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Currencies: Dollar Outperformance Despite Soft Data

KBC Bank — Wed, 27 Mar 2019 08:42:03 +0000

Rates: Will the bond rally resume after yesterday’s easing? The rally in global core bonds took a breather yesterday. Yields rose a few basis points. US Treasuries underperformed despite disappointing US housing data and weaker consumer confidence. Risk sentiment remains key for trading today with an avalanche of ECB members, incl. president Draghi, taking the […]

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RBNZ Shift To Dovish, Kiwi Keels Over

Forex.com — Wed, 27 Mar 2019 08:22:29 +0000

Stating that the next OCR direction is likely to be down, RBNZ crunched their way out of neutral gear whilst NZD bulls burned rubber and headed for the exit. Summary of the March statement: The Official Cash Rate (OCR) remains at 1.75%. Next OCR direction is more likely to be down. Global economic outlook has […]

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Asia FX Handover

Forex.com — Wed, 27 Mar 2019 08:01:39 +0000

RBNZ shifted to dovish in today’s meeting. Although they kept rates at 1.75%, they stated the next rate move is likely down, citing weaker growth (domestically and with trade partners) and downside risks to their outlook. NZD sold off heavily across the board and is crowned volatility king of the session. Trump’s pick for an […]

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Kiwi Tanks After A Dovish RBNZ Points To A Rate Cut

OctaFX — Wed, 27 Mar 2019 07:52:44 +0000

The kiwi tanked after the RBNZ made its interest rates decision. The bank left rates unchanged at the 1.75% level, where they have been since 2016. This was expected. What was not expected was the bank’s announcement that it could be forced to lower rates this year. This decision came after other central bankers have […]

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Nikkei Declines After Gain In Prior Session

Trade The News — Wed, 27 Mar 2019 07:31:50 +0000

General Trend: In Japan over 1,000 companies are trading ex-dividend today (includes Sony, Mitsubishi UFJ and Softbank) Japanese autos and financials trade generally lower, Iron/Steel and Marine/Transportation firms also decline Chinese Healthcare and Financial firms rise in early trading; IT and Telecom services companies lag Chinese broker GF Securities declines after weaker than expected earnings, […]

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Brexit Vote Looms Tonight

Danske Bank — Wed, 27 Mar 2019 07:29:04 +0000

Market movers today Today is rather heavy for market moving events on data, Brexit and ECB speakers. On the data front, the Norwegian labour force survey and Swedish manufacturing confidence are released (page 2). On the central bank front, several ECB officials are due to speak at the annual ECB watchers’ conference, which definitely has […]

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Germany’s Gfk Consumer Confidence Index Unexpectedly Dropped In April

GCI Financial — Wed, 27 Mar 2019 07:27:15 +0000

For the 24 hours to 23:00 GMT, the EUR declined 0.34% against the USD and closed at 1.1276. On the macro front, Germany’s Gfk consumer confidence index unexpectedly fell to a level of 10.4 in April, defying market expectations of a steady reading. In the prior month, the index had registered a revised reading of […]

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UK’s BBA Mortgage Approvals Surprisingly Fell In February

GCI Financial — Wed, 27 Mar 2019 07:25:54 +0000

For the 24 hours to 23:00 GMT, the GBP slightly rose against the USD and closed at 1.3209, after two Eurosceptic lawmakers hinted that they would back UK’s Prime Minister Theresa May’s Brexit deal. Data showed that UK’s BBA mortgage approvals unexpectedly declined to a level of 35.3K in February, defying market expectations for a […]

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Japanese Yen Trading A Tad Lower In The Morning Session

GCI Financial — Wed, 27 Mar 2019 07:21:08 +0000

For the 24 hours to 23:00 GMT, the USD rose 0.48% against the JPY and closed at 110.54. In the Asian session, at GMT0400, the pair is trading at 110.55, with the USD trading a tad higher against the JPY from yesterday’s close. The pair is expected to find support at 110.13, and a fall […]

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Swiss Franc Extends Its Losses In The Asian Session

GCI Financial — Wed, 27 Mar 2019 07:17:30 +0000

For the 24 hours to 23:00 GMT, the USD rose 0.16% against the CHF and closed at 0.9938. In the Asian session, at GMT0400, the pair is trading at 0.9958, with the USD trading 0.20% higher against the CHF from yesterday’s close. The pair is expected to find support at 0.9932, and a fall through […]

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Loonie Trading Lower In The Morning Session

GCI Financial — Wed, 27 Mar 2019 07:15:50 +0000

For the 24 hours to 23:00 GMT, the USD declined 0.15% against the CAD and closed at 1.3381. In the Asian session, at GMT0400, the pair is trading at 1.3395, with the USD trading 0.10% higher against the CAD from yesterday’s close. The pair is expected to find support at 1.3374, and a fall through […]

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Aussie Reverses Its Gains In The Asian Session

GCI Financial — Wed, 27 Mar 2019 07:15:01 +0000

For the 24 hours to 23:00 GMT, the AUD rose 0.41% against the USD and closed at 0.7139. LME Copper prices rose 0.5% or $33.0/MT to $6361.0/MT. Aluminium prices remained flat at $1856.0/MT. In the Asian session, at GMT0400, the pair is trading at 0.7104, with the AUD trading 0.49% lower against the USD from […]

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Gold: Yellow Metal Trading Slightly Higher In The Asian Session

GCI Financial — Wed, 27 Mar 2019 07:11:00 +0000

For the 24 hours to 23:00 GMT, Gold declined 0.47% against the USD and closed at USD1321.70 per ounce, as the US dollar strengthened following a rebound in the US Treasury yields. In the Asian session, at GMT0400, the pair is trading at 1322.20, with gold trading marginally higher against the USD from yesterday’s close. […]

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Silver: White Metal Trading Slightly Higher This Morning

GCI Financial — Wed, 27 Mar 2019 07:07:57 +0000

For the 24 hours to 23:00 GMT, Silver declined 0.71% against the USD and closed at USD15.44 per ounce, tracking losses in gold prices. In the Asian session, at GMT0400, the pair is trading at 15.44, with silver trading slightly higher against the USD from yesterday’s close. The pair is expected to find support at […]

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Crude Oil: Oil Trading Higher, Ahead EIA’s Weekly Crude Oil Stockpiles Data

GCI Financial — Wed, 27 Mar 2019 07:07:03 +0000

For the 24 hours to 23:00 GMT, Crude Oil rose 1.29% against the USD and closed at USD59.87 per barrel, amid declines in global production led by the OPEC and supply reductions brought on by the US sanctions on Iran and Venezuela. Meanwhile, the American Petroleum Institute (API) reported that US crude oil inventories rose […]

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Kiwi Crashes On Dovish Shift By RBNZ

MarketPulse — Wed, 27 Mar 2019 05:09:53 +0000

NZD/USD at two-week low The Reserve Bank of New Zealand kept rates unchanged at today’s meeting, as expected but it was the accompanying statement that impacted the most. The Bank shifted to a more dovish stance, joining a host of other central banks that have adopted that bias since the Fed stopped hiking rates. The […]

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Australia: Will Federal Budget impact Monetary Policy?

Westpac Banking Corporation — Wed, 27 Mar 2019 04:26:37 +0000

Unlike most other Federal Budgets the 2019 Budget, being partly targeted at households, is likely to attract the interest of the Reserve Bank. In this note we weigh the various issues with respect to our policy forecast that the Bank will be cutting the cash rate in August. In previous years the Reserve Bank has […]

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First impressions of the RBNZ’s March OCR Review

Westpac Banking Corporation — Wed, 27 Mar 2019 04:25:03 +0000

The Reserve Bank has surprised us by shifting to an easing bias for the OCR. The RBNZ is now saying that “the more likely direction of the next OCR move is down.” It also said that the balance of risks to the economic outlook “has shifted to the downside.” This is very different to February, […]

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