News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • 🇳🇱 Inflation Rate YoY (APR) Actual: 1.9% Expected: 1.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.89%, while traders in Wall Street are at opposite extremes with 77.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sV6ncqn10p
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/xkNb1VIrEN
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.10% 🇨🇦CAD: 0.08% 🇨🇭CHF: 0.06% 🇦🇺AUD: 0.03% 🇳🇿NZD: -0.03% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hxMR9a5jxI
  • Heads Up:🇳🇱 Inflation Rate YoY (APR) due at 04:30 GMT (15min) Expected: 1.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.25% US 500: -0.52% France 40: -1.12% Germany 30: -1.24% FTSE 100: -1.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/sAj0aetO3t
  • Retail FX traders (at IG) have pushed up their long $USDCAD position to levels not seen in years which has nudged the net long to approximately 85% of open interest. They are fighting that trend https://t.co/eIOcdLiPik
  • Risk trends is the focus to start this week with the Nasdaq 100 dragging sentiment down through the close of the NY session. My attention is on the Dollar as pairs like $GBPUSD stare down major resistance or reversal: https://www.dailyfx.com/forex/video/daily_news_report/2021/05/11/EURUSD-GBPUSD-and-Nasdaq-Outlook-Key-Levels-and-Events-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/72GGBPMNcw
  • White House monitoring supply shortages in parts of the southeast -BBG
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/RAtsYwpmXl
New Zealand Dollar Outlook Hinges On RBNZ Policy

New Zealand Dollar Outlook Hinges On RBNZ Policy

David Song, Strategist
New_Zealand_Dollar_Outlook_Hinges_On_RBNZ_Policy_body_Picture_5.png, New Zealand Dollar Outlook Hinges On RBNZ Policy

Fundamental Forecast for New Zealand Dollar: Neutral

The New Zealand dollar pared the advance from earlier this week to maintain the range-bound price action carried over from June and the high-yielding currency may continue to track sideways in the days ahead as the Reserve Bank of New Zealand preserves its wait-and-see approach. Indeed, the RBNZ is widely expected to keep the benchmark interest rate at 2.50% in July, but we will be closely watching the statement accompanying the rate decision as market participants weigh the prospects for future policy.

According to Credit Suisse overnight index swaps, investors are currently pricing a 5% chance for a 25bp rate cut next week, while borrowing costs are expected to hold relatively steady over the next 12-months as the central bank anticipates to see a faster recovery later this year. As the RBNZ sees the region to benefit from the rebuilding efforts in Christchurch, we should see Governor Alan Bollard strike an upbeat outlook for the region, but the slowdown in the global economy may bring about some dovish comments as headline reading for inflation expands at the slowest pace since 1999. At the same time, we’re expecting to see New Zealand’s trade surplus narrow to 2M in June from 301M the month prior, and the weakening outlook for global trade may spark speculation for lower borrowing costs as the RBNZ maintains a cautious tone for the region.

In turn, we may see the NZDUSD come under increased pressure next week, and the pair may threaten the range from the previous month should the RBNZ show a greater willingness to lower the benchmark interest rate further. However, if Governor Bollard continues to endorse a neutral stance for the medium-term, we may see the kiwi-dollar make a run at the monthly high (0.8075), and the high-yielding currency may outperform against its major counterparts as the central bank moves away from its easing cycle. - DS

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES