Home Forex Forex Market Analysis DAILY ABSTRACT for 30th January 2018

DAILY ABSTRACT for 30th January 2018

29
0

Daily Abstract’s Hot Topics:

  • DOLLAR – RAISES WITH ALL EYES ON THE FOMC MEETING.
  • NZD – NEW ZEALAND TRADE BALANCE (MoM) STRIKES A RECORD SINCE MARCH 2015.

 

Daily performance of main currencies

The Dollar dominated the first session of the week <DOLLAR> gaining 0.31% in a week that will be driven by the last Janet Yellen FOMC meeting. The Crude Oil registered the worst performance <USOil > that plunged -1.03%.

 

 

DOLLAR – RAISES WITH ALL EYES ON THE FOMC MEETING.

The dollar has started a bullish week where it has been dominant today. This week all eyes will be on the last meeting of Janet Yellen as Chair of the Federal Reserve. Although many analysts expect an increase in the interest rate, our view is that it will remain unchanged until March.

On the technical level, our vision continues to be bullish. In the short term, we expect a slight retracement and a new momentum that will lead to the level of resistance R1 in weekly temporality.

US Dollar Index 1-hour Chart ( click on the image to enlarge) kamagra online kaufen ohne rezept

NZD – NEW ZEALAND TRADE BALANCE (MoM) STRIKES A RECORD SINCE MARCH 2015.

The New Zealand Trade Balance (MoM) has reported a historic surplus of $ 640M, the highest value since March 2015. The main factor that has contributed to this increase has come from dairy products exported to China.

 

Our vision for the Kiwi is that the oceanic currency is completing a bullish structure to make way for a higher grade connector. The first target zone is 0.723.

NZD-USD 1-hour Chart ( click on the image to enlarge)

LEAVE A REPLY

Please enter your comment!
Please enter your name here