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NZD/CAD has come down from the levels of 0.9750 seen in June this year to 0.9125 touched today as CAD has strengthened against almost every currency in anticipation of Bank of Canada raising interest rates from record low levels. I think the major part of weakness in NZD/CAD is over and we may see sideways trades with a upward bias. My target is 0.9205 with a stop loss of 0.9115
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USD/JPY is on a crossroad.
USD:
US GDP Growth rose to 2.6 % (YoY) in second quarter of 2017 which marks a robust improvement from the first quarter of 2017 GDP growth rate of 1.4 % (YoY). The pick up in GDP growth rate is mainly driven by higher consumer spending and rising exports. Optimism about domestic economic conditions is giving the consumers the confidence to spend more as they expect the future income to rise while improvement in world economy is boosting exports as the demand for American products rise. Governme…
US GDP Growth rose to 2.6 % (YoY) in second quarter of 2017 which marks a robust improvement from the first quarter of 2017 GDP growth rate of 1.4 % (YoY). The pick up in GDP growth rate is mainly driven by higher consumer spending and rising exports. Optimism about domestic economic conditions is giving the consumers the confidence to spend more as they expect the future income to rise while improvement in world economy is boosting exports as the demand for American products rise. Governme…
A retracement possible in EUR/USD
EUR/USD suffered nearly 1 % losses after upbeat US Non farm payrolls report. Non farm payrolls in the US increased by 209 K in July of 2017 on back of solid job growth seen in food services and drinking places, professional and business services, and health care. This data points may reverse US doller weakness of recent weeks. I am expecting the EUR/USD to decline to 38.2 % Fibonacci retracement of recent rally from 1.1400 to 1.1910 in next week.
AUD/NZD to rally further.
AUD:
In Australia the Reserve Bank of Australia is expecting the Australian economy to grow at an annual rate of around 3 percent over the next couple of years and inflation is estimated to pick up gradually as the economy strengthens. Employment growth has been stronger over recent months, and has increased in all states. The unemployment rate is expected to decline a little over the next couple of years.
NZD:
The economic situation in New Zealand has brightened in recent months as New Zealand …
In Australia the Reserve Bank of Australia is expecting the Australian economy to grow at an annual rate of around 3 percent over the next couple of years and inflation is estimated to pick up gradually as the economy strengthens. Employment growth has been stronger over recent months, and has increased in all states. The unemployment rate is expected to decline a little over the next couple of years.
NZD:
The economic situation in New Zealand has brightened in recent months as New Zealand …
EUR/NZD to rally further.
EUR:
The Euro Area economy advanced 2.1 percent on quarter in the three months to June of 2017, which is better than 1.9 percent growth in the previous quarter ending March 2017. Household consumption and public spending were the main drivers of growth while fixed investment slowed sharply and net external demand contributed negatively. The GDP growth rate serves as a broad indicator for the health of Euro-zone economies. Robust GDP growth signals a heightened level of economic activity, which i…
The Euro Area economy advanced 2.1 percent on quarter in the three months to June of 2017, which is better than 1.9 percent growth in the previous quarter ending March 2017. Household consumption and public spending were the main drivers of growth while fixed investment slowed sharply and net external demand contributed negatively. The GDP growth rate serves as a broad indicator for the health of Euro-zone economies. Robust GDP growth signals a heightened level of economic activity, which i…
A correction likely in NZD/USD.
NZD:
The economic situation in New Zealand has brightened in recent months as New Zealand has turned
into a trade surplus economy driven by the growth in exports of Milk products and lumber.
The domestic economy is also in good shape. The unemployment rate at 4.9% in last quarter nearly touched low of 8 years.
The economy is expected to gain steam further as the construction sector should show rebound next quarter.
USD:
US GDP Growth rose to 2.6 % (YoY) in second quarter of 2017 which marks a …
The economic situation in New Zealand has brightened in recent months as New Zealand has turned
into a trade surplus economy driven by the growth in exports of Milk products and lumber.
The domestic economy is also in good shape. The unemployment rate at 4.9% in last quarter nearly touched low of 8 years.
The economy is expected to gain steam further as the construction sector should show rebound next quarter.
USD:
US GDP Growth rose to 2.6 % (YoY) in second quarter of 2017 which marks a …
Predicting EUR/AUD
EUR:
The Euro Area economy advanced 2.1 percent on quarter in the three months to June of 2017, which is better than 1.9 percent growth in the previous quarter ending March 2017. Household consumption and public spending were the main drivers of growth while fixed investment slowed sharply and net external demand contributed negatively. The GDP growth rate serves as a broad indicator for the health of Euro-zone economies. Robust GDP growth signals a heightened level of economic activity, which i…
The Euro Area economy advanced 2.1 percent on quarter in the three months to June of 2017, which is better than 1.9 percent growth in the previous quarter ending March 2017. Household consumption and public spending were the main drivers of growth while fixed investment slowed sharply and net external demand contributed negatively. The GDP growth rate serves as a broad indicator for the health of Euro-zone economies. Robust GDP growth signals a heightened level of economic activity, which i…
AUD/USD rally to continue.
AUD:
In Australia the Reserve Bank of Australia is expecting the Australian economy to grow at an annual rate of around 3 percent over the next couple of years and inflation is estimated to pick up gradually as the economy strengthens. Employment growth has been stronger over recent months, and has increased in all states. The unemployment rate is expected to decline a little over the next couple of years.
USD:
US GDP Growth rose to 2.6 % (YoY) in second quarter of 2017 which marks a robust impr…
In Australia the Reserve Bank of Australia is expecting the Australian economy to grow at an annual rate of around 3 percent over the next couple of years and inflation is estimated to pick up gradually as the economy strengthens. Employment growth has been stronger over recent months, and has increased in all states. The unemployment rate is expected to decline a little over the next couple of years.
USD:
US GDP Growth rose to 2.6 % (YoY) in second quarter of 2017 which marks a robust impr…
EUR/USD to remain strong.
EUR:
The Euro Area economy advanced 2.1 percent on quarter in the three months to June of 2017, which is better than 1.9 percent growth in the previous quarter ending March 2017. Household consumption and public spending were the main drivers of growth while fixed investment slowed sharply and net external demand contributed negatively. The GDP growth rate serves as a broad indicator for the health of Euro-zone economies. Robust GDP growth signals a heightened level of economic activity, which i…
The Euro Area economy advanced 2.1 percent on quarter in the three months to June of 2017, which is better than 1.9 percent growth in the previous quarter ending March 2017. Household consumption and public spending were the main drivers of growth while fixed investment slowed sharply and net external demand contributed negatively. The GDP growth rate serves as a broad indicator for the health of Euro-zone economies. Robust GDP growth signals a heightened level of economic activity, which i…
Predicting EUR/USD
In coming months the euro is expected to remain under pressure amid concerns over the possibility of a Brexit or Trump-style shock result in France’s upcoming presidential election.
Worries over elections in the Netherlands, Germany and possibly Italy, as well as the ongoing row over Greece's bailout are adding to concerns over political risk in the euro area.
US dollar has been trading sideways with a downward bias since the start of the year amid a lack of clarity on U.S. President Donald Tru…
Worries over elections in the Netherlands, Germany and possibly Italy, as well as the ongoing row over Greece's bailout are adding to concerns over political risk in the euro area.
US dollar has been trading sideways with a downward bias since the start of the year amid a lack of clarity on U.S. President Donald Tru…