- RBNZ likely to hold rates this meeting (Wednesday 2:00 am GMT)
- The unemployment rate fell to 3.9% in Q2, wages picked up to 2.2% y/y
- consumer spending increased to 39273 Million in Q2 reaching an all time high.
-futures markets are currently pricing two more 25-bps cuts over the next 12 months so any upside momentum could be short lived, i will not hold any buy positions for longtime.
-the language of the statement will be important when it comes to the timing of the next move which will determine pair movements in the next couple of weeks.
-if the statement signaled that the next move will depend on the next economic data and did not mention that the economy needs more cuts in the near term, the pair may test the level shown on the chart.
SL and Target are shown on the chart, Goodluck.
- The unemployment rate fell to 3.9% in Q2, wages picked up to 2.2% y/y
- consumer spending increased to 39273 Million in Q2 reaching an all time high.
-futures markets are currently pricing two more 25-bps cuts over the next 12 months so any upside momentum could be short lived, i will not hold any buy positions for longtime.
-the language of the statement will be important when it comes to the timing of the next move which will determine pair movements in the next couple of weeks.
-if the statement signaled that the next move will depend on the next economic data and did not mention that the economy needs more cuts in the near term, the pair may test the level shown on the chart.
SL and Target are shown on the chart, Goodluck.
Trade closed: target reached