Global macro overview for 02/03/2017
March 2, 2017 8:56 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
- Technical Analysis – Goldman Sachs stock gains on strong earnings April 15, 2024
- Trading Signals for ETH/USD (Ethereum) for April 15-17, 2024: buy above $3,125 (200 EMA – 2/8 Murray) April 15, 2024
- Analysis for EUR/USD on April 15th. Monday – a tough day for the euro April 15, 2024
- GBP/USD: trading plan for the US session on April 15th (analysis of morning deals) April 15, 2024
- EUR/USD: trading plan for the US session on April 15th (analysis of morning deals). Euro is at an impasse April 15, 2024
- GBP/USD: Will sterling hold steady against dollar? April 15, 2024
- Technical Analysis – USDJPY rallies to another fresh 34-year high April 15, 2024
- Will Netflix earnings take the share price closer to its record highs? – Stock Markets April 15, 2024
- EUR/USD. April 15th. Bulls panic and retreat from the market April 15, 2024
- GBP/USD. April 15th. The dollar gains confidence April 15, 2024
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and the US Dollar Index April 15, 2024
- XM’s Heartfelt Ramadan Iftar Support April 15, 2024
- Weekly forecast based on simplified wave analysis of EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on April 15th April 15, 2024
- Technical Analysis – US 500 reverses towards 123.6% Fibonacci April 15, 2024
Global macro overview for 02/03/2017:
In his recent statement, Reserve Bank of New Zealand (RBNZ) Governor Wheeler stated that the risks around future Official Cash Rate (OCR) movements are equally weighted reflecting balanced risks around inflation. This means, that the possibility of RBNZ hiking the interest rate or cutting the interest rate is equal and depend mainly on the RBNZ economic projection targets. Moreover, the RBNZ is currently biased towards the negative sentiment, mostly due to several major sources of uncertainty surrounding Europe, the US, and China. In Wheeler opinion, the biggest risk is President Trump’s “America First” policy which could lead to protectionism and might highly influence the global economy in a negative way. In conclusion, RBZA is keeping an eye on the US political and economic development and might cut or hike the interest rate depending on the future projections.
Let’s now take a look at the NZD/USD technical picture at the daily time frame. The price is trading just below the 50%Fibo at the level of 0.7118, but those are not the oversold market conditions yet. The next support is seen at the level of 0.7041 and if the technical support at the level of 0.7098 is clearly violated, then this would be the next target for the bears.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: