NZD - BULLISH
1️⃣ Sentiment was boosted after the Global Dairy Trade’s price index surged 15% compared to the previous auction, its eighth consecutive price rise as whole milk powder prices rose 21% to a seven-year high.
2️⃣ New Zealand’s central bank is in no rush to tighten monetary policy, assistant governor Christian Hawkesby said on Tuesday, as he sought to temper market speculation of a quicker end to stimulus and a move towards a hike in interest rates.
JPY - BEARISH
1️⃣ Japan’s services sector extended declines for the 13th consecutive month in February as business activity was hit by curbs put in place to stop the spread of the coronavirus pandemic.
2️⃣ Local 10-year bonds also eased to 0.12% while the US 10-year rate ticked higher to 1.407%.
3️⃣ Positive risk tone weighing on the safe-haven JPY.
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Technical
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We are looking to buy the NZDJPY at support + above SMA 50 on the H1 chart.
1️⃣ Sentiment was boosted after the Global Dairy Trade’s price index surged 15% compared to the previous auction, its eighth consecutive price rise as whole milk powder prices rose 21% to a seven-year high.
2️⃣ New Zealand’s central bank is in no rush to tighten monetary policy, assistant governor Christian Hawkesby said on Tuesday, as he sought to temper market speculation of a quicker end to stimulus and a move towards a hike in interest rates.
JPY - BEARISH
1️⃣ Japan’s services sector extended declines for the 13th consecutive month in February as business activity was hit by curbs put in place to stop the spread of the coronavirus pandemic.
2️⃣ Local 10-year bonds also eased to 0.12% while the US 10-year rate ticked higher to 1.407%.
3️⃣ Positive risk tone weighing on the safe-haven JPY.
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Technical
=====
We are looking to buy the NZDJPY at support + above SMA 50 on the H1 chart.
Trade active
PENDING ORDER TRIGGERED
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.