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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 67.63%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5dXf6fqsQz
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.41% Germany 30: 0.36% FTSE 100: 0.34% US 500: -0.05% Wall Street: -1.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fFsUz2EvOi
  • The US Dollar is continuing to strength today. The $DXY has risen above the 90.80 level to its highest point since last Wednesday. $USD https://t.co/OFWBlH3loM
  • quite the reversal in commod currencies over the past two days. $USDCAD from falling wedge support to resistance. this tl held a number of inflections earlier this month, now being tested through https://t.co/O2zqFkYz9Y https://t.co/Rljf0c6JE3
  • $USDCHF rose to trading above the 0.9100 level for the first time since November. $USD $CHF https://t.co/afJSa3Ap5h
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.86%, while traders in GBP/JPY are at opposite extremes with 67.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7CenEe3hcL
  • Hey traders! Wrap up your week with a quick market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/9Sfqv1U0TJ
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -2.02% Gold: -2.70% Silver: -4.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pOc7rwbN4x
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.41% 🇬🇧GBP: -0.45% 🇨🇭CHF: -0.51% 🇨🇦CAD: -0.76% 🇳🇿NZD: -1.57% 🇦🇺AUD: -1.85% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wtEBvYAAG2
  • A pullback off confluence uptrend support threatens a larger pullback here but keeps the broader trade constructive while within this formation. Get your $btc market update from @MBForex here:https://t.co/ScHuboiZRB https://t.co/gNiGelWKTM
Strategy Video: Market Heavily Biased Heading Into RBNZ Rate Decision

Strategy Video: Market Heavily Biased Heading Into RBNZ Rate Decision

John Kicklighter, Chief Strategist

Talking Points:

• According to swaps, the market is certain that the RBNZ will cut its benchmark lending rate another 25 bps

• Setting expectations so high, a simple rate cut may not be enough to extend further Kiwi declines

• Given how depressed the NZD has become these past weeks, there will be a strong influence for correction

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

The RBNZ rate decision is likely to generate more volatility and trend in the aftermath of its policy decision than the Fed or ECB leveraged. The difference is the potential for surprise and the intensity of conviction heading into the event. Looking at overnight swaps, we find that the market is certain of a 25 basis point cut to 3.00 percent. What's more, speculation is so intense that the market is starting to weigh in on the possibility of a 50 bp move or at least rhetoric that opens the door for a follow up cut the meeting that follows. These intense forecasts set a strong expectation - one that can be easily disappointed. Whether the RBNZ can live up to these forecasts or falls short, there are certain pairs that are better positioned for taking advantage of the outcome. We discuss these scenarios and pairs in today's Strategy Video.

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

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