RBFX Support Posted April 17 Report Share Posted April 17 (edited) EUR halted. Overview for 17.04.2024 The primary currency pair paused its sell-off on Wednesday. The current EURUSD exchange rate stands at 1.0624. The market has grown weary of selling, particularly as the five-month lows have been updated repeatedly. Monetary policymakers from the US Federal Reserve and the European Central Bank were quite active yesterday, but the market has already factored in all their comments in the quotes. Jerome Powell, Chair of the US Federal Reserve, stated yesterday that the regulator hopes to receive more confident data on inflation stabilisation in the future. Investors interpreted his remarks literally, concluding that the Fed is not ready to cut interest rates in June and is shifting forecasts to September. European Central Bank member Francois Villeroy de Galhau highlighted the ECB's ability to adjust the pace of interest rate cuts if the Middle East conflict has a long-term impact on energy prices. The ECB is expected to make its first interest rate cut after the June meeting. Inflation in the region is confidently heading towards 2%. Market participants expect to see three rate cuts by the end of 2024. While there is no contradiction between monetary policies, the market's reaction to Powell's remarks is evident: investors are adjusting their strategies in response to the absence of decisive action from the Fed on a global scale. Fundamental analysis for other instruments can be found in the section "Forex Forecasts and Analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team Edited April 17 by RBFX Support Quote Link to comment Share on other sites More sharing options...
RBFX Support Posted April 19 Author Report Share Posted April 19 NZD hit new lows. Overview for 19.04.2024 The New Zealand dollar, paired with the US dollar, is declining on Friday. The current NZDUSD exchange rate stands at 0.5882. Investors are avoiding risks, which affects the New Zealand dollar, among other factors. The geopolitical factor in the Middle East currently plays a significant role as the primary market catalyst. Moreover, the US Federal Reserve’s aggressive commentary pressured the NZD. Investors are considering that the Fed might not reduce interest rates this year. This situation strengthens the US dollar’s position and hurts other currencies. This week, New Zealand released statistics indicating that inflation in Q1 dropped to 4% y/y, the lowest CPI value since summer 2021. Meanwhile, the RBNZ’s official inflation forecast for Q1 remains at 3.8%. Fundamental analysis for other instruments can be found in the section "Forex Forecasts and Analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team Quote Link to comment Share on other sites More sharing options...
RBFX Support Posted April 22 Author Report Share Posted April 22 EUR is rising moderately. Overview for 22.04.2024 The primary currency pair maintains its upward trajectory on Monday. The current EURUSD exchange rate stands at 1.0663. Recent comments from the US Federal Reserve have led investors to reconsider global interest rate cut timelines. Meanwhile, the European Central Bank is believed to start reducing the interest rate in the mid-year. ECB member Madis Muller stated on Friday that the regulator may cut interest rates several times by the end of the year after the initial move in June if inflation is in line with expectations. ECB president Christine Lagarde hinted at the same last week without providing indications of specific timelines. ECB official Robert Holzmann stated earlier that the ECB will likely need more time to be prepared to cut rates as aggressively as planned. As usual, opinions differ, but this diversity of viewpoints proves positive: the market is concerned about prospects and, therefore, carefully analyses the developments. Fundamental analysis for other instruments can be found in the section "Forex Forecasts and Analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team Quote Link to comment Share on other sites More sharing options...
RBFX Support Posted Thursday at 09:12 AM Author Report Share Posted Thursday at 09:12 AM EUR has paused. Overview for 25.04.2024 The main currency pair paused its ascent on Thursday. The current EURUSD exchange rate stands at 1.0705. Nothing significant happened; the market remains highly sensitive to even the slightest changes in global sentiment. Today, the US will release the GDP statistics for Q1 2024. The economy is expected to grow by 2.5% compared to the previous 3.4%. A local slowdown in economic growth at the beginning of the year may be a normal response to some dip in activity. However, the GDP is forecasted to gain dynamics later on. The market believes the US dollar is emerging as the most effective currency this year. Simultaneously, the fundamental performance of the US economic system compared to other countries suggests that USD could continue rising against other currencies. The US dollar is supported by rising US government spending and high demand for the safe-haven asset. Moreover, the deflationary effect of China's economic decline buoys the USD. Fundamental analysis for other instruments can be found in the section "Forex Forecasts and Analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team Quote Link to comment Share on other sites More sharing options...
RBFX Support Posted Friday at 09:02 AM Author Report Share Posted Friday at 09:02 AM (edited) EUR is rising smoothly. Overview for 26.04.2024 The primary currency pair demonstrates a modest increase on Friday. The current EURUSD exchange rate stands at 1.0722. The market is uncertain whether the US Federal Reserve has all the necessary arguments to lower the interest rate in the near future. Yesterday's weak US GDP release for Q1 2024 could have been a reason to soften the monetary policy if the Fed were prepared to act. The US economy increased by only 1.6% in January-March, contrary to the expected rise of 2.5%. In Q4 last year, the GDP demonstrated a 3.4% increase. Meanwhile, consumer demand remains high. This factor limits the Fed's actions, compelling it to await a more opportune moment to lower the rate. Today, the macroeconomic calendar is packed with statistics. The focus is on the March Core PCE inflationary component and reports on Americans' income and spending for the previous month. Fundamental analysis for other instruments can be found in the section "Forex Forecasts and Analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team Edited Friday at 09:02 AM by RBFX Support Quote Link to comment Share on other sites More sharing options...
RBFX Support Posted yesterday at 10:38 AM Author Report Share Posted yesterday at 10:38 AM AUD continues to rise. Overview for 29.04.2024 The Australian dollar appears strong against the US dollar. The current AUDUSD exchange rate stands at 0.6567. The Aussie surpassed a three-week high against its American counterpart as the USD slightly corrected its position ahead of this week's meeting. It is worth noting that the Aussie has surged to its 11-year high against the JPY. The anticipated currency interventions from the Bank of Japan still do not deter anyone. Previous inflation statistics in Australia reinforced expectations that the Reserve Bank of Australia will not embark on monetary policy easing anytime soon. The consumer price index in Q1 declined to 3.6% from the previous 4.1%. However, it remained above the forecasted 3.4%, marking the fifth consecutive quarter of easing inflationary pressure. Meanwhile, the monthly index accelerated in March, reaching 3.5% from 3.4% in February. This week, Australia will publish retail sales and trade statistics, providing further insights into the state of the economy. Fundamental analysis for other instruments can be found in the section "Forex Forecasts and Analysis" on our website. Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team Quote Link to comment Share on other sites More sharing options...
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