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The RBNZ left the OCR at 5.5% at its May policy meeting, as was widely expected. The RBNZ discussed the possibility of tightening at this meeting but concluded that they retain sufficient confidence to leave the OCR unchanged. Cuts were not discussed. The revised projections lifted the OCR track. A first easing is forecast in […]

The post RBNZ Review: Doing the Hard Yards appeared first on Action Forex.

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29/12/2023

AUDUSD Wave Analysis

AUDUSD reversed from resistance level 0.6865 Likely to fall to support level 0.6800 AUDUSD currency pair recently reversed down from the major resistance level 0.6865 (which has been reversing the pair from June). The resistance level 0.6865 was further strengthened by the nearby upper daily Bollinger Band. Given the strength of the resistance level 0.6865 […]
02/09/2024

Sunset Market Commentary

Markets Trading slowed down to a trickle today in absence of US investors (Labour Day holiday) and amid an empty EMU eco calendar. A lot of ink has been spilled about this week’s key US eco data and their impact on markets and Fed policy. It allows us to have a look at this week’s […]
05/08/2024

USD/JPY: Falls to Eight-Month Low, Eyes Key 140.00 Support Zone

USDJPY fell sharply overnight, hitting the lowest since early January, extending steep bear-leg off 155.21 lower top into fifth consecutive day. The pair was down 3.3% in Asian session on Monday, remaining under increased pressure after downbeat US NFP data further soured dollar’s sentiment. Large bearish candle of last week (USDJPY was down 4.7% for […]