Market Brief November 8th: Interest rate decision from New Zealand

08 November, 2017 - 07:48AM

United States

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.

New Zealand

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!

 

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