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Don’t waste your time – keep track of how NFP affects the US dollar!
The Reserve Bank of New Zealand will conduct a meeting on May 26, at 05:00 MT time. During this event, policymakers will discuss the effectiveness of a current monetary policy and possible adjustments to it. Based on their conclusions, they will publish a monetary policy statement – a document that will contain economic forecasts and possible changes to the bank's interest rate. As the regulator keeps the official cash rate at the record low of 0.25%, the main question for traders is when the bank plans to hike it? According to ANZ, a famous Australian multinational banking and financial services company, the RBNZ may go hawkish as soon as August 2022. Additionally, the forecasts for GDP, employment, and inflation are expected to be revised up. At the same time, analysts don't see any sign of changes to the quantitative easing program.
The markets will likely react to any change in the tone of the bank.
Instruments to trade: NZD/USD, NZD/JPY, AUD/NZD
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!