Today was another quiet session for London and NY with very limited economic releases, the market was also virtually unchanged all the way until NY afternoon where RBNZ rate decision came out.
It was originally expected to be a non catalyst as the expectation was largely built in for the price, however, even though the rate decision of RBNZ was unchanged, but market intercepted the statement to be dovish.
Moreover, further press conference and RBNZ Gov wheeler’s interview (separated time) had pressed NZD down even more.
Basically the central bank does not like to see NZD being too strong and tried to talk it down -and it worked! For now.
Equity markets were mixed and everything was very quiet except near the NY wrap.
WTI recovered today regardless of another large built in the Crude oil, as mentioned, the oil market is having the divergence between OPEC and U.S shale producers and the possible import tax by Donald Trump.
For EUR
there aren’t any major news except the continued concerns over the French election. The fundamental view is still bearish and sentimental view is also bearish.
For USD
there aren’t any major release today but dollar continued to suffer negative sentiment as if market was expecting a big blow from Donald Trump again.
With the court decision on Travel Ban coming out soon and the meeting with Japan PM Abe, there are more risk events to create uncertainty for USD.
It’s still a fundamentally strong currency, but the sentiment will be the main catalyst.
For GBP
there aren’t any major release and we saw GBP had very little movement for the day without any sentiment, as mentioned, there are equal amount of buyers/sellers over GBP and everyone is very short-term and sentimentally oriented.
For CAD
it has regained ground today due to the small recovery of oil market, the difficult part for trading is that the oil market regained ground regardless of the large Crude built.
CAD follows oil market and oil market does seem to upside of the general direction, for now.
For NZD
NZD was the headline today in the NY afternoon all the way until Asian session. The fundamental strength of NZD was still solid, but the sentimental reason to sell NZD was also very large - especially this sentiment was created by central bank itself.
I still hold a strong view of buying NZD and will see the current action as short-term panic and/or profit taking.
But again, be careful not to grab the falling knife if you want to buy low.
For AUD
because of the weakness of NZD & USD, AUD has regained ground. There aren’t any major news but the high commodity price continued to support AUD.
For JPY
The headline of PM Abe and Trump meeting will be a major effect not only for USD/JPY but for the global sentiment.
As for now, JPY is a neutral currency with fundamental bearish.
For CHF
exact same spot as JPY but if we see uncertainty created by the meeting of Abe and Trump, then CHF might be another good buy.
Today was another quiet session for London and NY with very limited economic releases, the market was also virtually unchanged all the way until NY afternoon where RBNZ rate decision came out.
It was originally expected to be a non catalyst as the expectation was largely built in for the price, however, even though the rate decision of RBNZ was unchanged, but market intercepted the statement to be dovish.
Moreover, further press conference and RBNZ Gov wheeler’s interview (separated time) had pressed NZD down even more.
Basically the central bank does not like to see NZD being too strong and tried to talk it down -and it worked! For now.
Equity markets were mixed and everything was very quiet except near the NY wrap.
WTI recovered today regardless of another large built in the Crude oil, as mentioned, the oil market is having the divergence between OPEC and U.S shale producers and the possible import tax by Donald Trump.
For EUR
there aren’t any major news except the continued concerns over the French election. The fundamental view is still bearish and sentimental view is also bearish.
For USD
there aren’t any major release today but dollar continued to suffer negative sentiment as if market was expecting a big blow from Donald Trump again.
With the court decision on Travel Ban coming out soon and the meeting with Japan PM Abe, there are more risk events to create uncertainty for USD.
It’s still a fundamentally strong currency, but the sentiment will be the main catalyst.
For GBP
there aren’t any major release and we saw GBP had very little movement for the day without any sentiment, as mentioned, there are equal amount of buyers/sellers over GBP and everyone is very short-term and sentimentally oriented.
For CAD
it has regained ground today due to the small recovery of oil market, the difficult part for trading is that the oil market regained ground regardless of the large Crude built.
CAD follows oil market and oil market does seem to upside of the general direction, for now.
For NZD
NZD was the headline today in the NY afternoon all the way until Asian session. The fundamental strength of NZD was still solid, but the sentimental reason to sell NZD was also very large - especially this sentiment was created by central bank itself.
I still hold a strong view of buying NZD and will see the current action as short-term panic and/or profit taking.
But again, be careful not to grab the falling knife if you want to buy low.
For AUD
because of the weakness of NZD & USD, AUD has regained ground. There aren’t any major news but the high commodity price continued to support AUD.
For JPY
The headline of PM Abe and Trump meeting will be a major effect not only for USD/JPY but for the global sentiment.
As for now, JPY is a neutral currency with fundamental bearish.
For CHF
exact same spot as JPY but if we see uncertainty created by the meeting of Abe and Trump, then CHF might be another good buy.