NZD - BULLISH
1️⃣ New Zealand’s GDP rose 1.6% quarter-on-quarter in the first quarter of 2021 after a revised 1.0% contraction in the previous period and against market expectations for a 0.5% surge. It is the biggest expansion since the 3rd quarter of 2019.
2️⃣ As a high-beta currency, risk-on market sentiment can give the NZD an advantage.
3️⃣ The Reserve Bank of New Zealand (RBNZ) may halt quantitative easing (QE) in the coming months as it prepares to raise rates, which also adds that market pricing indicates a more than 50% possibility of an OCR hike in November.
JPY - BEARISH
1️⃣ Positive global market sentiment could put pressure on safe-haven currencies like the JPY.
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TECHNICAL
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- We're buying this pair on pivot point + moving average area on H1 chart.
1️⃣ New Zealand’s GDP rose 1.6% quarter-on-quarter in the first quarter of 2021 after a revised 1.0% contraction in the previous period and against market expectations for a 0.5% surge. It is the biggest expansion since the 3rd quarter of 2019.
2️⃣ As a high-beta currency, risk-on market sentiment can give the NZD an advantage.
3️⃣ The Reserve Bank of New Zealand (RBNZ) may halt quantitative easing (QE) in the coming months as it prepares to raise rates, which also adds that market pricing indicates a more than 50% possibility of an OCR hike in November.
JPY - BEARISH
1️⃣ Positive global market sentiment could put pressure on safe-haven currencies like the JPY.
=====
TECHNICAL
=====
- We're buying this pair on pivot point + moving average area on H1 chart.
Trade active