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NZD
Fundamental Analysis
(25th Apr): NZD continues to be dragged along with the AUD as speculations of a rate cut still remain fresh. The Anzac Day holiday in New Zealand has also limited movement. Amid global uncertainty, this sentiment driven currency remains under pressure.
(24th Apr): The NZD was dragged lower along with the AUD after March quarter inflation in Australia fell to its slowest pace in 3 years, rekindling rate cut speculation. A similar miss in New Zealand’s inflation data released earlier this month had meant the market was already pricing in about a 50% chance the RBNZ will cut rates in May. That has not moved to a 66% chance after the Australian data. NZD remains under pressure along with AUD as rate cut speculations resurfaces.
(23rd Apr): NZD remains under pressure today as increasing expectation that RBNZ could cut interest rates at the upcoming meeting on May 8. The nation’s 10 year bond yield declines 2bps to 1.95%. Risk appetite is low today which causes sentiment–sensitive currencies such as the NZD to fall.
(22nd Apr): The NZD seemed to have recovered some of its losses but the easter holidays have restricted the momentum. The week started with the US eliminating Iran oil waivers which could upset major importers such as China. China stocks fell from a 13 month high, posting their worst session in nearly 4 weeks, as comments from top policymaking bodies raised investor fears that Beijing will slow the pace of policy easing after some signs of stabilisation in the world’s second largest economy. Risk appetite remains low which has placed added negative pressure on the kiwi.
Technical Analysis
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CAD
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Fundamental Analysis
(25th Apr): The CAD fell to its weakest level since Jan 3rd after the BoC abandoned its rate hike bias. The bank held steady on its key rate as expected, keeping it at 1.75% however GDP for 2019 was revised down to 1.2% from 1.7% in January. In his opening statement, Poloz referred to monetary policy needing to… [/blur][/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column][vc_empty_space height=”35px”][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=””][vc_column_inner width=”1/5″][/vc_column_inner][vc_column_inner width=”3/5″][vc_separator type=”normal” color=”#b70909″ border_style=””][/vc_column_inner][vc_column_inner width=”1/5″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”35px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column width=”1/5″][/vc_column][vc_column width=”3/5″][kswr_heading head_align=”center” head_subtitle_color=”#333333″ head_title=”ACCESS RESTRICTED” head_title_fsize=”font-size:23px;line-height:2;” head_title_fstyle=”font-family:Inherit;font-weight:700;” head_subtitle_fsize=”font-size:17px;line-height:1.5;” head_subtitle_fstyle=”font-family:Inherit;font-weight:inherit;” head_title_margins=”margin-top:0px;margin-bottom:0px;” head_subtitle_margins=”margin-top:0px;margin-bottom:0px;”]Our comprehensive daily reports covers both technical and fundamental analysis, and are customised to your requirements.
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