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Forex & Equities: RBNZ Hikes Rates Again & Session Ranges

Posted by Akhilesh Ganti on Apr 23, 2014 11:00:00 PM

Reserve Bank of New Zealand (RBNZ) raised rates by 25bp for the second time in as many months in order to keep pace with the economic recovery. This outcome was widely expected by the market which might explain the Kiwi's rather muted response as it rose by about 25 pips on the announcement. Governor Wheeler once again stressed that the elevated exchange rate was a potential hindrance to economic growth with the clear inference being that future rate increases will be, at least causally, tied to the strength of the currency.

Oil Prices continued their decline as US Crude Oil inventories hit record highs. WTI has fallen as low as $101.45/barrel after flirting with $105 late last week.

Ranges:{WWM's New ALPHA Trader-DAILY charts [EUR, GBP, AUD, YEN, GOLD, OIL, DXY]}(click to enlarge)

FX 042414

Equities:{WWM's New ALPHA Trader-4 HOUR charts [Dow30, SP500, Nasdaq100, Japan225, China, Nifty50, FTSE100, ASX200]}(click to enlarge)

STOCKS 042414

 

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