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Currency Pair of the Week: AUD/NZD

Currency Pair of the Week: AUD/NZD
Joe Perry
April 12, 2021 2:19 PM
The RBNZ meeting and the Australian Employment are both this week!
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Australia will release their Employment data this week on Thursday. Expectations are for an additional 35,000 jobs to be added to the economy. In February, 88,700 jobs were added, of which just about all were full-time jobs! The unemployment rate is expected to drop from 5.8% to 5.7%. Last week, the RBA met and left interest rates unchanged at 0.1% and began a new A$100 billion bond purchase program. The committee noted that they would leave monetary policy accommodative until actual inflation is withing their 2%-3% target, which they don’t expect to be until 2024. Housing prices are rising, and fears are stirring of an overheated market. If jobs come in stronger than expected, will this force the RBA to reconsider policy with a hot housing market? One idea is that the RBA can focus their bond buying on longer durations. This would help keep rates lower in the belly of the curve. The central bank currently targets the 3-year yield and aims to keep it at 10 bps. Although Australia is behind other countries with its vaccinations, they have done a great job at controlling the coronavirus. Therefore, this isn’t as pressing of an issue, compared to areas such as Europe.

China , Australia , New-zealand , Aussie , Australian , Although-australia , Reserve-bank , New-zealand-dollars , Retail-sales , Moving-average , Australian-employment

Currency pair of the week: USD/MXN

Currency pair of the week: USD/MXN
Joe Perry
February 8, 2021 2:17 PM
The Bank of Mexico meets this week and there is a possibility they may cut rates
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During the first few weeks of Joe Biden’s Presidency, he has put pen to paper signing executive orders on everything from immigration to climate change to wearing masks. However, as mentioned in the Week Ahead, the main focus in his early days has been on his $1.9 stimulus package making it way through congress. Last week, an important procedural motion was passed, which allow for the text and legislation of the plan to be drafted up. Hopes for Democrats are that the plan, in its totality, will be passed by the end of month. However, the US Dollar was well bid through Thursday last week, prompting speculation that inflation expectations may be in the forefront of many traders’ minds. 10-year yields also made new pandemic highs. The US Fed is in “wait and see” mode to gather evidence of how the stimulus package will affect he economy. Although some Fed officials have acknowledged there may be a rise in near term inflation expectations, they also said that the path of the on the economy is still uncertain and will be highly dependent on the spread of the coronavirus and the vaccine rollout. Excluding employment, US data has been strong as of late.

Mexico , Brazil , Pfizer , Joe-biden , Week-ahead , Currency-pair-of-the-week , Usd-mxn , Bank-of-mexico , Banxico , Interest-rates , Technical-analysis

Currency pair of the week: XAU/USD (Gold)

Currency pair of the week: XAU/USD (Gold)
Joe Perry
January 11, 2021 2:14 PM
Markets don’t like uncertainty. When there is uncertainty, investors buy gold.
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Markets don’t like uncertainty. When there is uncertainty, investors buy gold. Many of the uncertainties that have been surrounding the markets towards the end of the year have been lifted. Joe Biden won the US Presidential election and will become the 46
th President of the United States on January 20
th. Last week, President Trump also begrudgingly conceded the election and said there will be a smooth transition of power. In addition, with Democrats winning the remaining 2 contests for US Senate last week, we now know that the Democrats will not only continue to enjoy a majority in the House of Representatives, but they will also control the Senate. The Brexit saga has also ended. Although it came down to the wire, a deal has been agreed and the uncertainty of a no-Brexit deal has been lifted.

China , Arizona , United-states , California , Tokyo , Japan , United-kingdom , London , City-of , Joe-biden , Pfizer , Astrazeneca