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Macro

GBP/JPY Outlook (24 February 2022)Overall, GBP/JPY is ranging across. Bank of England (BoE) Governor Bailey will be delivering a pre-recorded opening remarks at the BoE’s First Annual BEAR Conference later at 2115 (GMT+8). Also. BoE committee member Pill will be speaking tomorrow at 0200 (GMT+8). During these times, there may be volatility in GBP. Currently, GBP/JPY is testing the support zone of 156.000 and the next resistance zone is at 158.000. Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 156.000.
Short
by JinDao_Tai
GBP/USD Outlook (24 February 2022)Overall, GBP/USD is ranging across. Recently, GBP/USD rejected the resistance zone of 1.36000. Bank of England (BoE) Governor Bailey will be delivering a pre-recorded opening remark at the BoE’s First Annual BEAR Conference later at 2115 (GMT+8). Also. BoE committee member Pill will be speaking tomorrow at 0200 (GMT+8). During these times, there may be volatility in GBP. GBP/USD’s next support zone is at 1.33800 and the next resistance zone is at 1.36000. Look for short-term selling opportunities of GBP/USD.
Short
by JinDao_Tai
NZD/USD Outlook (24 February 2022)Overall, NZD/USD is ranging across. Recently, NZD/USD bounced down from the key level of 0.68. The Reserve Bank of New Zealand (RBNZ) hiked its Official Cash Rate (OCR) by 0.25% yesterday during its meeting. The central bank’s committee expressed their willingness to carry out a larger OCR hike in future meetings if necessary. The committee also agreed to start reducing the central bank’s bond holdings under the Large Scale Asset Purchase (LSAP) programme through bond maturities and managed sales. In the released quarterly monetary policy statement, the RBNZ revised their OCR projections upward from Q4 2022 onwards. Inflation projection has also been revised upwards. The overall hawkish tone sent out by the central bank led to the strengthening of NZD. The New Zealand retail sales q/q data will be released tomorrow at 0545 (GMT+8). - Core Retail Sales q/q (Forecast: 5.5%, Previous: -6.7%) - Retail Sales q/q (Forecast: 6.2%, Previous: -8.1%) NZD/USD’s next support zone is at 0.67100 and the next resistance zone is at 0.68400. Look for short-term buying opportunities of NZD/USD.
Long
by JinDao_Tai
GBP/USD Outlook (23 February 2022)Overall, GBP/USD is ranging across. Recently, GBP/USD rejected the resistance zone of 1.36000. Bank of England Governor Bailey and the central bank’s committee members will be testifying on the monetary policy report later at 1730 (GMT+8). During this time, there may be volatility in GBP. Currently, GBP/USD is testing the resistance zone of 1.36000 and the next support zone is at 1.33800. Look for short-term selling opportunities of GBP/USD if it rejects the resistance zone of 1.36000.
Short
by JinDao_Tai
NZD/USD Outlook (23 February 2022)Overall, NZD/USD is ranging across. Recently, NZD/USD broke the resistance zone of 0.67100. The Reserve Bank of New Zealand (RBNZ) will be announcing their monetary policy later at 0900 (GMT+8). It is expected that the central bank will be increasing interest rate by 0.25%. If the RBNZ carries out a rate hike of 0.50%, NZD will likely be bullish. Also, focus on the interest rate projection released in the quarterly monetary policy statement on whether any revisions have been carried out. An upwards revision in the expected interest rate in the near future will likely lead to a bullish NZD. A press conference will be held at 1000 (GMT+8). During this time, volatility is expected in NZD. NZD/USD’s next support zone is at 0.67100 and the next resistance zone is at 0.68400. If the RBNZ delivers a hawkish tone, look for short-term buying opportunities of NZD/USD.
Long
by JinDao_Tai
USD/JPY Outlook (23 February 2022)Overall, USD/JPY is ranging across. The BoJ Core CPI y/y data (Actual: 0.8%, Forecast: 1.1%, Previous: 0.9%) released yesterday indicated a slowdown in annual inflation. Japanese banks will be closed today in observance of Emperor’s Birthday. Expect lower trading volatility and volume during the usual Japanese market hours. Currently, USD/JPY is testing to break above the key level of 115. Its next support zone is at 114.200 and the next resistance zone of 116.000. Look for short-term buying opportunities of USD/JPY if it breaks above the key level of 115.
Long
by JinDao_Tai
USD Overview (23 February 2022)Yesterday, USD strengthened against most major currencies except EUR, AUD and NZD. The flash PMI data released yesterday indicated a faster pace of expansion in business activities in February. - Flash Manufacturing PMI (Actual: 57.5, Forecast: 56.2, Previous: 55.5 revised from 55.0) - Flash Services PMI (Actual: 56.7, Forecast: 53.2, Previous: 51.2 revised from 50.9) U.S. President Joe Biden announced yesterday that the U.S. will start imposing strict sanctions on Russia amid the latter’s geopolitical tension with Ukraine.
TVC:DXY
by JinDao_Tai
GBP/JPY Outlook (22 February 2022)Overall, GBP/JPY is ranging across. The UK flash PMI data released yesterday indicated continued expansion in the manufacturing sector while the services sector expanded at a much faster pace than previous date release. - Flash Manufacturing PMI (Actual: 57.3, Forecast: TBA, Previous: 57.3 revised from 56.9) - Flash Services PMI (Actual: 60.8, Forecast: TBA, Previous: 54.1 revised from 53.3) Bank of England committee member Ramsden will be speaking later at 1845 (GMT+8). During this time, there may be volatility in GBP. Currently, GBP/JPY is testing the support zone of 156.000 and the next resistance zone is at 158.000. Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 156.000.
Short
by JinDao_Tai
GBP/USD Outlook (22 February 2022)Overall, GBP/USD is ranging across. The UK flash PMI data released yesterday indicated continued expansion in the manufacturing sector while the services sector expanded at a much faster pace than previous date release. - Flash Manufacturing PMI (Actual: 57.3, Forecast: TBA, Previous: 57.3 revised from 56.9) - Flash Services PMI (Actual: 60.8, Forecast: TBA, Previous: 54.1 revised from 53.3) Bank of England committee member Ramsden will be speaking later at 1845 (GMT+8). During this time, there may be volatility in GBP. Currently, GBP/USD is testing the resistance zone of 1.36000 and the next support zone is at 1.33800. Look for short-term selling opportunities of GBP/USD if it rejects the resistance zone of 1.36000.
Short
by JinDao_Tai