
Fed Chair Jerome Powell will testify today at 19:05 MT time. This event is crucial for traders as the tone of the speech may set the risk tone for the markets for the next two weeks.
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On Wednesday, February 24, at 03:00 MT time, RBNZ will provide the Rate Statement and Press Conference. As the interest rate is the primary impact factor for any currency, this release may bring a change to or support the current value of the NZD.
After the rate was reduced to the historical 0.25% at the beginning of 2020, the RBNZ was faithfully committed to keeping it at those lows as long as the economy of New Zealand is going through the recovery process. The consumer price inflation target is not and is not expected to be met yet. In the meantime, while the economic stimulus is applied, the vaccines are being spread among the population. You will be looking for the messages regarding the outlook of these dynamics in the RBNZ statement. If there are brighter spots in what the Bank officials deliver, the New Zealand dollar may be boosted.
Instruments to trade: NZD/USD; NZD/CAD; NZD/JPY: NZD/CHF
Fed Chair Jerome Powell will testify today at 19:05 MT time. This event is crucial for traders as the tone of the speech may set the risk tone for the markets for the next two weeks.
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
Australian GDP rose by 3.1%, exceeding analysts’ forecasts of 2.5%. The Australian dollar climbed after the release, but then joined its peers in falling against the USD.
Fed Chair Jerome Powell will testify today at 19:05 MT time. This event is crucial for traders as the tone of the speech may set the risk tone for the markets for the next two weeks.
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
BoA has tracked signs of the upcoming stock market sell-off. While more expensive and at-risk stocks are set to fall, value stocks should survive.
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