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Bank of Canada meets today and virtually everyone expects a hike. A cautious hike is indeed the most likely scenario, though I wouldn't rule out a hawkish hold. There should be a big market reaction in either case. 1.26 area is the first stronger resistance and 1.23 the support.
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New Zealand dollar marked up on upbeat RBNZ
RBNZ kept its official cash rate on hold, as expected. Rate statement was fairly upbeat. The bank upgraded OCR forecast. Governor Spencer sounded hawkish. NZD/USD jumped about 40 pips, pulled back and added a few more during press conference.
Pound skyrockets after hawkish BOE
A hawkish hold by the BOE yesterday took many by surprise. Interest rates and voting pattern were left unchanged, as expected, but the minutes revealed that the majority of MPC saw as likely some withdrawal of monetary stimulus over the coming months, provided that economy continues on its current path.
Having been already in a firm uptrend, GBP/USD took the decision in a stride. It gained almost two cents on the day and so far added a good cent this morning. The pair is currently trading at the…
Having been already in a firm uptrend, GBP/USD took the decision in a stride. It gained almost two cents on the day and so far added a good cent this morning. The pair is currently trading at the…