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Forex & Equities: RBNZ on tap tomorrow; Charts & Session Ranges

Posted by Akhilesh Ganti on Jun 10, 2014 10:48:00 PM

Australia's Consumer Confidence index for June rose by +0.2% to 93.2 as sentiment appears to be stabilizing after the sharp federal-budget-induced decline. While this is mildly comforting, the fact that it is below 100 implies that pessimists still outnumber optimists.

The Reserve Bank of New Zealand(RBNZ) is scheduled to announce the results of their monetary policy meeting tomorrow and the consensus is for a 25bp raise which would bring their Overnight Cash Rate(OCR) to 3.25%. This outcome appears to have been priced into the forex markets as evidenced by the Kiwi's appreciation -vs- the majors. The key issue that traders will be paying attention to is whether the RBNZ will hint at a pause in the tightening cycle given the recent stream of tepid economic data and signs that inflation pressures remain contained.

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

FX 061114

Equities:{WWM's New ALPHA Trader - DAILY charts [Dow30, SP500, Nasdaq100, Nikkei225, China, HKG40, Nifty50, ASX200]}(click to enlarge)

STOCKS 061114


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