Source: PaxForex Premium Analytics Portal, Fundamental Insight At the end of this week's monetary policy meeting, the central bank of New Zealand will maintain the status quo and leave its key interest rate at 0.25%. It is more likely that the central bank will apply additional measures of quantitative easing. NZD/USD, 30 min Pivot: 0.7088 Analysis: Provided that the currency pair is traded above 0.7057, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7088...
Source: PaxForex Premium Analytics Portal, Technical Insight U.S. stock indices declined in trading on Monday due to investors' reluctance to open new positions at the start of a week full of quarterly company reports and economic statistics. The S&P 500 declined 0.81 points (0.02%) to 4127.99 points. S&P 500, H4 Pivot: 4128.00 Analysis: Provided that the index is traded above 4100.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 4128.00 Take Profit 1: 4140.00...
Source: PaxForex Premium Analytics Portal, Technical Insight In the accompanying statement at the end of the monetary policy meeting the Bank of Canada said: The Central Bank will maintain the rate at current levels and continue QE until inflation reaches the target level on a sustainable basis; The Central Bank will maintain a transparent communication policy and continue to implement the QE program at the current pace (at least C$4 billion per week); The C$ remains relatively stable against the USD, but has strengthened...
Source: PaxForex Premium Analytics Portal, Technical Insight Gold declined on Friday amid a rising dollar and U.S. government bond yields. The spot gold price fell to $1.731.18 per troy ounce. GOLD/USD, 30 min Pivot: 1738.00 Analysis: Provided that the price is below 1746.00, follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1738.00 Take Profit 1: 1730.00 Take Profit 2: 1724.00 Alternative scenario: In case of breakdown of the level 1746.00, follow the recommendations...
Source: PaxForex Premium Analytics Portal, Technical Insight According to Reuters, president and CEO of the Federal Reserve Bank of Dallas Kaplan said in an ongoing speech: I wouldn't want the Fed to create an obstacle for the Treasury bond market with its actions; Once the pandemic is over and we see progress on jobs and inflation, I will be in favor of rolling back QE; As for financial markets, I am more concerned about what I don't see than what I do see; The Fed's inflation target is still at 2%, even under...
