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The New Zealand Dollar is down 1.2% since the start of the day on Wednesday due to disappointment with the RBNZ’s actions and comments. The country’s central bank left its key interest rate unchanged at 5.5% and signalled its willingness to keep it at current levels. This is much softer than expected, as markets had […]

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18/12/2023

Market’s Move Back to Reality May Heal the Dollar

The Dollar made a crucial technical breakdown the previous week following a public admission from the Fed of a policy reversal. The Fed’s comments and subsequent press conference pressed the Dollar index under its 200-day moving average. The decline continued on Thursday as neither the Bank of England nor the ECB acknowledged that they were […]
05/12/2023

AUD/USD: Challenging Key 200-Day Moving Average Post RBA

RBA left its policy cash rate unchanged at 4.35% in line with expectations. A slight dovish tonality in the monetary policy statement has reduced the expectations of a “hawkish pause”. Technical analysis suggests that the medium-term uptrend phase of the AUD/USD from its 26 October 2023 low remains intact. Watch the 0.6570 pivotal support. Australia’s […]
19/12/2023

USD/JPY Remains Trapped in a Correction Following BoJ

Today’s focus is on the Bank of Japan’s decision to maintain its current policy stance, which has led to a depreciation of the Japanese Yen. Consequently, the USD/JPY pair is on an upward trajectory, seeking higher resistance levels. Although this trend may extend further, there is an anticipation of a potential downturn in 2024. Ueda’s […]