Forex: EURUSD and NZDUSD Reversal vs Breakout
• EURUSD has been curbed by 1.3900 - temporarily at least - as S&P 500 presents another slip for risk
• The New Zealand dollar carries the top market-moving potential ahead with the RBNZ rate decision
• Rate forecasts and risk trends form the foundation for both EURUSD and NZDUSD
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With major technical levels at hand for the majors - some still holding, some broken - speculators await the next burst of volatility. For the ever-elusive risk theme, we are seeing another early swell in fear. With the S&P 500 pulling back to channel support, the emerging market currencies favoring safe havens and yen crosses easing back; there is a uniform sentiment move. Yet, still absent is the conviction that will amplify these trends and change the actual tone of the market. Meanwhile, monetary policy will take center stage. We've had updates on Euro, Pound and Yen based policy forecasts. Up next, the market is expecting the first rate hike amongst the majors: the RBNZ for the New Zealand dollar. We discuss risk trends and rate expectations in today's Trading Video.
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