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The New Zealand Dollar rose on Wednesday, trading at 0.5721 despite a significant interest rate cut by the Reserve Bank of New Zealand (RBNZ). As expected, the RBNZ lowered rates by 0.50% to 3.75%, the lowest since November 2022. The bank has cut rates by 1.75% since August, but the NZD’s strength was surprising since […]

The post NZDCAD Technical Analysis appeared first on Action Forex.

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04/10/2024

Markups and Downs

The RBA no longer says that wages growth is too high to be consistent with inflation returning to target. But how did it come to that conclusion in the first place? Last week we noted that, in its September post-meeting communications, the RBA was no longer saying that wages growth was ‘above the level that […]
29/11/2024

Weekly Focus – Political Risks Rise Again in France

Geopolitics and political events dominated the agenda this week. On Monday evening, president-elect Donald Trump announced 25% tariffs on imported goods from Canada and Mexico, and an additional 10% tariff on China. This would bring the total China tariff to 35%. Mexico has already threatened to retaliate while Canadian Prime Minister Justin Trudeau said he was […]
28/11/2024

EURUSD Wave Analysis

EURUSD reversed from support area Likely to rise to resistance level 1.0620 EURUSD currency pair recently reversed up from support area located at the intersection of the long-term support level 1.0455 (previous yearly low from 2023) and the lower weekly Bollinger Band. The upward reversal from the support level 1.0455 will form the weekly Bullish […]