Although the Fed is still expected to hike rates and the Swiss National Bank is still looking to weaken their own currency, I feel to go short at the moment. This is for my trade journal only feel free to comment.
The Reserve Bank of New Zealand may cut the official cash rate by a quarter point to 2.5 percent with its monetary policy statement tomorrow but I believe that RBNZ will wait to see if the US Federal Reserve hikes US rates in December since that will push the NZ-14.29% dollar down and push inflation in New Zealand up.
The Reserve Bank of New Zealand may cut the official cash rate by a quarter point to 2.5 percent with its monetary policy statement on this Thursday so please be cauctious this trade. But I beleive that RBNZ will wait to see if the US Federal Reserve hikes US rates in December, because that will push the NZ dollar down and push inflation in New Zealand up.
AUD weakness prevalent across crosses after poor Australia Capex data. Aussie felt below the trendline that it's time for a correction. RSI evidences the divergence. Target 1.0730.
EURCAD Short entry from 14250, SL 14360 on 01-Dec-2015
USDCAD BID ON OIL ALREADY PRICED IN SHORT TRADE TRIGGERED The pair has seen its upside accelerated after Canadian GDP figures have come in short of expectations during the third quarter, showing the domestic economy has expanded at an annual pace of 2.3% vs. 2.4% expected. On a monthly basis, the Canadian economic has contracted 0.5% vs. a flat reading initially...
Further decline is still expected. NZD was higher after data showed that business confidence in New Zealand improved this month, albeit less than initially expected. Data earlier showed that the ANZ business confidence index for New Zealand rose to 14.6 in November from 10.5 the previous month. Analysts had expected the index to climb to 15.0 this month.
In monthly chart the pair has closed below the support trend line which parallel with line from 1995-2008 highs. EURUSD-0.19% downside potential may be realized towards parity even lower. This week will be crucial for the outlook of EURUSD. The December ECB meeting, Yellen’s speeches at the Economic Club in Washington and the US Congress, as well as the...