USD, 15: 30 p.m. GMT, Crude Oil Inventories – if we see that inventories have increased, this means levels of supply would be higher, and price of the commodity could drop. On the other hand, if output has been cut, this could boost the price of the commodity. Expectations are for -2.800M for this week compared to – 2.435M for the previous one.
NZD, 20:00 p.m. RBNZ Interest Rate Decision – this is a high-impact event that could potentially create opportunities for trading. It’s better to await a couple of hours after the event has taken place so that the noise doesn’t affect trading decisions. Expectations are for the rate to remain the same at 1.75%, same as for the last period. If the actual result is better than projections, this should be seen as a bullish sign. Conversely, a potential cut could bring down the price of the currency.
NZD, 20:00 p.m. RBNZ Rate Statement – statement of the Reserve Bank of New Zealand is related to factors that contributed to the decision for keeping or changing the interest rate of the country.
Wishing you Happy and Successful Trading!
Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the analysis above has not been prepared in accordance with legal requirements designed to promote the independence of Investment Research. Readers using the above information should consider the possibility of encountering substantial losses. Therefore, UR Trade Fix Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the above analysis.” Further to the above ,Forex Trading involves a substantial Risk of Loss and may not be suitable for all Investors. Please see our Website for details regarding UR Trade Fix Limited’s Trading Terms, Policies and Offerings.Read more.
The post Market Brief November 8th: Interest rate decision from New Zealand appeared first on Tradeo Blog.