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Dagelijkse Markt Analyse 11 Januari 2019
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10 years 5 months ago #9492
by Jelle
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Replied by Jelle on topic Dagelijkse Markt Analyse 12 November 2015
DAGELIJKSE MARKT ANALYSE 12 NOVEMBER 2015
• Euro, US Dollar Focused on Comments from Leading Fed and ECB Officials
• Australian Dollar Soars as Impressive Jobs Report Cools RBA Rate Cut Bets
Central bank commentary dominates the spotlight in European trading hours. ECB President Mario Draghi is due to testify in the EU Parliament. A long list of Fed speakers including Chair Yellen, Vice Chair Fischer as well as branch Presidents Bullard, Lacker and Evans and Dudley is also on tap. Traders will comb through the remarks for clues about on-coming ECB stimulus expansion and a Fed rate hike in December.
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• Euro, US Dollar Focused on Comments from Leading Fed and ECB Officials
• Australian Dollar Soars as Impressive Jobs Report Cools RBA Rate Cut Bets
Central bank commentary dominates the spotlight in European trading hours. ECB President Mario Draghi is due to testify in the EU Parliament. A long list of Fed speakers including Chair Yellen, Vice Chair Fischer as well as branch Presidents Bullard, Lacker and Evans and Dudley is also on tap. Traders will comb through the remarks for clues about on-coming ECB stimulus expansion and a Fed rate hike in December.
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10 years 5 months ago #9493
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Replied by Jelle on topic Dagelijkse Markt Analyse 13 November 2015
DAGELIJKSE MARKT ANALYSE 13 NOVEMBER 2015
• Euro Unlikely to Find Lasting Strength in Upbeat 3Q Eurozone GDP Data
• US Dollar May Rise if Upbeat Retail Sales Data Bolsters Fed Rate Hike Bets
The preliminary set of third-quarter Eurozone GDP figures headlines the economic calendar in European trading hours. The year-on-year growth rate is expected to edge higher to 1.7 percent, the highest in four years. An upbeat outcome seems unlikely to offer meaningful support to the Euro however considering the figures’ limited impact for near-term monetary policy bets.
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• Euro Unlikely to Find Lasting Strength in Upbeat 3Q Eurozone GDP Data
• US Dollar May Rise if Upbeat Retail Sales Data Bolsters Fed Rate Hike Bets
The preliminary set of third-quarter Eurozone GDP figures headlines the economic calendar in European trading hours. The year-on-year growth rate is expected to edge higher to 1.7 percent, the highest in four years. An upbeat outcome seems unlikely to offer meaningful support to the Euro however considering the figures’ limited impact for near-term monetary policy bets.
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10 years 5 months ago #9497
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Replied by Jelle on topic Dagelijkse Markt Analyse 16 November 2015
DAGELIJKSE MARKT ANALYSE 16 NOVEMBER 2015
• EUR/USD Technical Strategy: Flat
• Euro Mired in Narrow Consolidation Range, Positive RSI Divergence Hints at Rebound
• Waiting for Attractive Short Setup in Line with Dominant Trend After Corrective Upswing
The Euro continues to oscillate in a narrow range against the US Dollar having touched the lowest level in six months last week. Positive RSI divergence points at ebbing downside momentum and hints that a corrective recovery may be brewing ahead.
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• EUR/USD Technical Strategy: Flat
• Euro Mired in Narrow Consolidation Range, Positive RSI Divergence Hints at Rebound
• Waiting for Attractive Short Setup in Line with Dominant Trend After Corrective Upswing
The Euro continues to oscillate in a narrow range against the US Dollar having touched the lowest level in six months last week. Positive RSI divergence points at ebbing downside momentum and hints that a corrective recovery may be brewing ahead.
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10 years 5 months ago #9507
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Replied by Jelle on topic Dagelijkse Markt Analyse 17 November 2015
DAGELIJKSE MARKT ANALYSE 17 NOVEMBER 2015
• AUD/USD Technical Strategy: Short at 0.7058
• Australian Dollar Stalls at Trend Line Resistance Having Soared AfterStrong Jobs Data
• Short Trade Remains in Play, Aiming for Renewed Push Lower Toward the 0.69 Figure
The Australian Dollar is edging lower having tested trend line resistance guiding the move lower since mid-October against its US namesake. The pair launched sharply higher after a strong set of employment figures dented RBA rate cut expectations but prices failed to overturn the near-term bearish bias.
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• AUD/USD Technical Strategy: Short at 0.7058
• Australian Dollar Stalls at Trend Line Resistance Having Soared AfterStrong Jobs Data
• Short Trade Remains in Play, Aiming for Renewed Push Lower Toward the 0.69 Figure
The Australian Dollar is edging lower having tested trend line resistance guiding the move lower since mid-October against its US namesake. The pair launched sharply higher after a strong set of employment figures dented RBA rate cut expectations but prices failed to overturn the near-term bearish bias.
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10 years 5 months ago #9510
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Replied by Jelle on topic Dagelijkse Markt Analyse 18 November 2015
DAGELIJKSE MARKT ANALYSE 18 NOVEMBER 2015
• US Dollar May Find Fuel for Further Gains on Hawkish Fed Meeting Minutes
• Euro, Pound Eye Central Bank Commentary to Inform On-Coming Policy Bets
A quiet economic calendar in European trading hours will put the spotlight on minutes from October’s FOMC meeting. The policy announcement seemed decidedly hawkish and markets interpreted it as such, with the US Dollar soaring and Fed Funds futures shifting to put the priced-in probability of a December rate hike in the 60-70 percent range.Subsequent commentary from Fed officials likewise leaned in favor of late-2015 “liftoff”. More of the same in the Minutes document may bolster imminent tightening bets, pushing the greenback upward.
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• US Dollar May Find Fuel for Further Gains on Hawkish Fed Meeting Minutes
• Euro, Pound Eye Central Bank Commentary to Inform On-Coming Policy Bets
A quiet economic calendar in European trading hours will put the spotlight on minutes from October’s FOMC meeting. The policy announcement seemed decidedly hawkish and markets interpreted it as such, with the US Dollar soaring and Fed Funds futures shifting to put the priced-in probability of a December rate hike in the 60-70 percent range.Subsequent commentary from Fed officials likewise leaned in favor of late-2015 “liftoff”. More of the same in the Minutes document may bolster imminent tightening bets, pushing the greenback upward.
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10 years 5 months ago #9512
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Replied by Jelle on topic Dagelijkse Markt Analyse 19 November 2015
DAGELIJKSE MARKT ANALYSE 19 NOVEMBER 2015
The DAX 30 did not pullback as expected and instead it took out the November 11 high of 10,996. This is a classic breakout signal and the short-term trend is now bullish above Tuesday’s low of 10,864 with traders who had bought the break probably having stops just below this level.
As long as Tuesday’s low of 10,864 holds, the DAX may reach the August 13 high of 11,154. In the case that the 10,864 does not hold as a support then bullish traders will be trapped at the high and it would be natural to get a decline to the support zone of 10,677-10,750 (see chart below).
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The DAX 30 did not pullback as expected and instead it took out the November 11 high of 10,996. This is a classic breakout signal and the short-term trend is now bullish above Tuesday’s low of 10,864 with traders who had bought the break probably having stops just below this level.
As long as Tuesday’s low of 10,864 holds, the DAX may reach the August 13 high of 11,154. In the case that the 10,864 does not hold as a support then bullish traders will be trapped at the high and it would be natural to get a decline to the support zone of 10,677-10,750 (see chart below).
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10 years 4 months ago #9519
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Replied by Jelle on topic Dagelijkse Markt Analyse 20 November 2015
DAGELIJKSE MARKT ANALYSE 20 NOVEMBER 2015
• EUR/USD Technical Strategy: Flat
• Euro Edging Higher as Expected After Finding Support Above 1.06 Figure vs. US Dollar
• Looking to Enter Short in Line with Dominant Down Trend Following Corrective Upswing
The Euro moved higher against the US Dollar as expected, with a break above trend line resistance set from mid-October hinting that a larger recovery may be ahead. The dominant long-term down trend continues to favor the downside however, painting any on-coming gains as corrective.
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• EUR/USD Technical Strategy: Flat
• Euro Edging Higher as Expected After Finding Support Above 1.06 Figure vs. US Dollar
• Looking to Enter Short in Line with Dominant Down Trend Following Corrective Upswing
The Euro moved higher against the US Dollar as expected, with a break above trend line resistance set from mid-October hinting that a larger recovery may be ahead. The dominant long-term down trend continues to favor the downside however, painting any on-coming gains as corrective.
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10 years 4 months ago #9526
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Replied by Jelle on topic Dagelijkse Markt Analyse 23 November 2015
DAGELIJKSE MARKT ANALYSE 23 NOVEMBER 2015
• Eurozone growth and job creation hit four-and-a-half year highs
• Flash Eurozone Manufacturing PMI at 52.8, above expectations and a 19-month high
• The Euro little changed versus the US Dollar
The Euro was little changed (at the time this report was written) versus the US Dollar after today’s Flash Markit Eurozone PMI printed figures above expectations. The Eurozone PMI Composite Output Index came at 54.4, above the 54.0 expected by economists, and above the 53.9 in October.
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• Eurozone growth and job creation hit four-and-a-half year highs
• Flash Eurozone Manufacturing PMI at 52.8, above expectations and a 19-month high
• The Euro little changed versus the US Dollar
The Euro was little changed (at the time this report was written) versus the US Dollar after today’s Flash Markit Eurozone PMI printed figures above expectations. The Eurozone PMI Composite Output Index came at 54.4, above the 54.0 expected by economists, and above the 53.9 in October.
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10 years 4 months ago #9531
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Replied by Jelle on topic Dagelijkse Markt Analyse 24 November 2015
DAGELIJKSE MARKT ANALYSE 24 NOVEMBER 2015
Strong US 3Q GDP to Fuel EUR/USD Selloff- April Low on Tap?
- 3Q U.S. GDP to Increase Annualized 2.1%- Second Highest Print for 2015.
- Core Personal Consumption Expenditure (PCE) to Expand 1.3%- Slowest Pace Since 1Q 2015.
The preliminary U.S. 3Q Gross Domestic Product (GDP) report may heighten the appeal of the greenback and spark fresh monthly lows in EUR/USD as signs of a stronger recovery fuels bets for a December Fed rate-hike.
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Strong US 3Q GDP to Fuel EUR/USD Selloff- April Low on Tap?
- 3Q U.S. GDP to Increase Annualized 2.1%- Second Highest Print for 2015.
- Core Personal Consumption Expenditure (PCE) to Expand 1.3%- Slowest Pace Since 1Q 2015.
The preliminary U.S. 3Q Gross Domestic Product (GDP) report may heighten the appeal of the greenback and spark fresh monthly lows in EUR/USD as signs of a stronger recovery fuels bets for a December Fed rate-hike.
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10 years 4 months ago #9534
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Replied by Jelle on topic Dagelijkse Markt Analyse 25 November 2015
DAGELIJKSE MARKT ANALYSE 25 NOVEMBER 2015
- Heightened probability of a move in December has been driving the US Dollar.
- Rising short-end US yields have supported recent greenback gains versus the Euro.
- Historical precedence around rate hike cycles beginning is messy at best.
Rate Hike Expectations Have Been Driving the US Dollar
The moment may finally be approaching: when the Federal Reserve begins the next stage of its policy normalization process and raises interest rates for the first time in almost a decade. Without mincing words, the process of the December rate hike being priced into markets has been nothing but the most significant tailwind for the US Dollar in recent weeks.
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- Heightened probability of a move in December has been driving the US Dollar.
- Rising short-end US yields have supported recent greenback gains versus the Euro.
- Historical precedence around rate hike cycles beginning is messy at best.
Rate Hike Expectations Have Been Driving the US Dollar
The moment may finally be approaching: when the Federal Reserve begins the next stage of its policy normalization process and raises interest rates for the first time in almost a decade. Without mincing words, the process of the December rate hike being priced into markets has been nothing but the most significant tailwind for the US Dollar in recent weeks.
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10 years 4 months ago #9542
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Replied by Jelle on topic Dagelijkse Markt Analyse 26 November 2015
DAGELIJKSE MARKT ANALYSE 26 NOVEMBER 2015
• Currency Swings in Thin Holiday Trade Likely to Struggle for Follow-Through
• New Zealand Dollar Outperforms After Yields Rise, Demand Firms at Bond Sale
• Australian Dollar Falls After Capex Unexpectedly Drops Most on Record in 3Q
The European data docket offers a lackluster set of low-tier releases and US markets are closed for the Thanksgiving holiday. This could make for a period of directionless drift across the G10 FX space. However, illiquid trading conditions may amplify knee-jerk volatility in the event that an unexpected event risk spooks the markets. Seemingly potent moves generated under these circumstances may struggle for follow-through and unravel once market participation fills out anew.
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• Currency Swings in Thin Holiday Trade Likely to Struggle for Follow-Through
• New Zealand Dollar Outperforms After Yields Rise, Demand Firms at Bond Sale
• Australian Dollar Falls After Capex Unexpectedly Drops Most on Record in 3Q
The European data docket offers a lackluster set of low-tier releases and US markets are closed for the Thanksgiving holiday. This could make for a period of directionless drift across the G10 FX space. However, illiquid trading conditions may amplify knee-jerk volatility in the event that an unexpected event risk spooks the markets. Seemingly potent moves generated under these circumstances may struggle for follow-through and unravel once market participation fills out anew.
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10 years 4 months ago #9544
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Replied by Jelle on topic Dagelijkse Markt Analyse 27 November 2015
DAGELIJKSE MARKT ANALYSE 27 NOVEMBER 2015
• The DAX looks to finish with yet another week of gains and will most likely be supported as we head towards next Thursday’s ECB meeting.
• The three to five day trend is bullish above this week’s low of 10,866.
The DAX 30’s three to five day trend is bullish above this week’s low of 10,866. This means that any corrective move, either today or early next week, towards 10,866 will probably be seen as a buying opportunity because as long as the DAX 30 trades above the weekly low of 10,866, we may actually reach the August high of 11,672.
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• The DAX looks to finish with yet another week of gains and will most likely be supported as we head towards next Thursday’s ECB meeting.
• The three to five day trend is bullish above this week’s low of 10,866.
The DAX 30’s three to five day trend is bullish above this week’s low of 10,866. This means that any corrective move, either today or early next week, towards 10,866 will probably be seen as a buying opportunity because as long as the DAX 30 trades above the weekly low of 10,866, we may actually reach the August high of 11,672.
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10 years 4 months ago #9548
by Jelle
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Replied by Jelle on topic Dagelijkse Markt Analyse 30 November 2015
DAGELIJKSE MARKT ANALYSE 30 NOVEMBER 2015
DAX 30: Break To Last Week’s High To Resume Bullish Trend
The overall trend is bullish above 10,866 and I see no reason for traders to change their bias so long as the DAX 30 remains above this level.
As the trend is bullish, traders will probably buy a dip in levels where the risk-reward-ratio favors long positions, like the 11,059 to 11,177 zone, or buy a bullish breakout e.g. a break to last week’s high of 11,367.
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DAX 30: Break To Last Week’s High To Resume Bullish Trend
The overall trend is bullish above 10,866 and I see no reason for traders to change their bias so long as the DAX 30 remains above this level.
As the trend is bullish, traders will probably buy a dip in levels where the risk-reward-ratio favors long positions, like the 11,059 to 11,177 zone, or buy a bullish breakout e.g. a break to last week’s high of 11,367.
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10 years 4 months ago #9550
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Replied by Jelle on topic Dagelijkse Markt Analyse 1 December 2015
DAGELIJKSE MARKT ANALYSE 1 DECEMBER 2015
• Switzerland’s 3Q QoQ GDP stagnated at 0.0%. below expectations
• 3Q year-on-year GDP expanded 0.8%, as expected
• SNB might react on further QE by the ECB
According to estimates released today by the Swiss State Secretariat for Economic Affairs (SECO), Switzerland’s Gross Domestic Product (GDP) stagnated in the third quarter of 2015, and came at 0.0 percent, below the 0.2 percent quarterly growth expected by economists, and below the prior quarter in which the economy grew 0.2 percent. The year-on-year change in GDP came in line with expectations as the report showed the economy grew at 0.8%, below the prior revised reading of 0.9 percent.
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• Switzerland’s 3Q QoQ GDP stagnated at 0.0%. below expectations
• 3Q year-on-year GDP expanded 0.8%, as expected
• SNB might react on further QE by the ECB
According to estimates released today by the Swiss State Secretariat for Economic Affairs (SECO), Switzerland’s Gross Domestic Product (GDP) stagnated in the third quarter of 2015, and came at 0.0 percent, below the 0.2 percent quarterly growth expected by economists, and below the prior quarter in which the economy grew 0.2 percent. The year-on-year change in GDP came in line with expectations as the report showed the economy grew at 0.8%, below the prior revised reading of 0.9 percent.
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10 years 4 months ago #9554
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Replied by Jelle on topic Dagelijkse Markt Analyse 2 December 2015
DAGELIJKSE MARKT ANALYSE 2 DECEMBER 2015
The Euro lost more than 0.35% versus the US Dollar
Eurozone headline CPI and Core CPI both printed figures below expectations
Speculation amplified on possible ECB actions tomorrow
The Euro-Zone’s Consumer Price Index (CPI) fell below expectations today as the preliminary headline reading came unchanged at 0.1% in November, below the expected 0.2%. Core CPI, which strips out volatile elements like food and energy prices, weakened to 0.9 percent, below economists’ forecasts for an unchanged 1.1%. Perhaps more worrying was the slowdown in the Core figure, which came below the prior reading and painted a problematic growth picture for the Euro-Zone coming into tomorrow’s all important ECB announcements.
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The Euro lost more than 0.35% versus the US Dollar
Eurozone headline CPI and Core CPI both printed figures below expectations
Speculation amplified on possible ECB actions tomorrow
The Euro-Zone’s Consumer Price Index (CPI) fell below expectations today as the preliminary headline reading came unchanged at 0.1% in November, below the expected 0.2%. Core CPI, which strips out volatile elements like food and energy prices, weakened to 0.9 percent, below economists’ forecasts for an unchanged 1.1%. Perhaps more worrying was the slowdown in the Core figure, which came below the prior reading and painted a problematic growth picture for the Euro-Zone coming into tomorrow’s all important ECB announcements.
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10 years 4 months ago #9564
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Replied by Jelle on topic Dagelijkse Markt Analyse 3 December 2015
DAGELIJKSE MARKT ANALYSE 3 DECEMBER 2015
• Euro May Turn Higher as ECB Stimulus Expansion Leaves Markets Wanting
• Aussie, Kiwi Dollars Find Support in Ebbing RBNZ and RBNZ Rate Cut Bets
• Canadian Dollar Soars Alongside Oil Prices After Saudi Output Cut Rumor
All eyes have turned to the monetary policy announcement from the European Central Bank, with Mario Draghi and company are widely expected to expand monetary stimulus. Options include broadening the scope of QE-eligible assets, scrapping the program’s September 2016 end date, increasing the size of monthly purchases from the current €60 billion and pushing the deposit rate deeper into negative territory from the current -20bps.
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• Euro May Turn Higher as ECB Stimulus Expansion Leaves Markets Wanting
• Aussie, Kiwi Dollars Find Support in Ebbing RBNZ and RBNZ Rate Cut Bets
• Canadian Dollar Soars Alongside Oil Prices After Saudi Output Cut Rumor
All eyes have turned to the monetary policy announcement from the European Central Bank, with Mario Draghi and company are widely expected to expand monetary stimulus. Options include broadening the scope of QE-eligible assets, scrapping the program’s September 2016 end date, increasing the size of monthly purchases from the current €60 billion and pushing the deposit rate deeper into negative territory from the current -20bps.
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10 years 4 months ago #9568
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Replied by Jelle on topic Dagelijkse Markt Analyse 4 December 2015
DAGELIJKSE MARKT ANALYSE 4 DECEMBER 2015
• US Dollar May Not Find Potent Driver in November’s Employment Data
• Risk Sentiment Trends May Shape Markets’ Response to US Jobs Report
A relatively uneventful economic calendar in European trading hours is likely to see traders looking ahead to November’s US Employment report. Expectations call for a 200,000 increase in nonfarm payrolls, marking a bit of a slowdown from the 271,000 gain recorded in the prior month. The jobless rate is seen holding unchanged at 5 percent. Average hourly earnings figures will also command attention considering the Fed’s struggle to bring inflation back toward 2 percent. On this front, forecasts for print at 2.3 percent year-on-year, marking a slight slowdown from the 2.5 percent outcome in October.
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• US Dollar May Not Find Potent Driver in November’s Employment Data
• Risk Sentiment Trends May Shape Markets’ Response to US Jobs Report
A relatively uneventful economic calendar in European trading hours is likely to see traders looking ahead to November’s US Employment report. Expectations call for a 200,000 increase in nonfarm payrolls, marking a bit of a slowdown from the 271,000 gain recorded in the prior month. The jobless rate is seen holding unchanged at 5 percent. Average hourly earnings figures will also command attention considering the Fed’s struggle to bring inflation back toward 2 percent. On this front, forecasts for print at 2.3 percent year-on-year, marking a slight slowdown from the 2.5 percent outcome in October.
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10 years 4 months ago #9569
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Replied by Jelle on topic Dagelijkse Markt Analyse 7 December 2015
DAGELIJKSE MARKT ANALYSE 7 DECEMBER 2015
• U.S. Non-farm payrolls printing 210k vs. the 200k expected (Bloomberg News Survey) lifts the FTSE and should keep it buoyant over the coming days ahead
• The short-term trend is bullish and I expect the FTSE 100 to reach 6400 as long as 6195 holds as support
Trading on Friday was a bit bumpy, but this was pointed out before the U.S. Non-farm payrolls release. If the NFP beat the economist consensus estimate of 200k and Thursday’s low of 6195 held as a support that would allow the FTSE 100 to reach 6300. The index reached the high of 6296 on a NFP print of 211k compared with a median estimate for a 200k gain in a Bloomberg survey of economists.
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• U.S. Non-farm payrolls printing 210k vs. the 200k expected (Bloomberg News Survey) lifts the FTSE and should keep it buoyant over the coming days ahead
• The short-term trend is bullish and I expect the FTSE 100 to reach 6400 as long as 6195 holds as support
Trading on Friday was a bit bumpy, but this was pointed out before the U.S. Non-farm payrolls release. If the NFP beat the economist consensus estimate of 200k and Thursday’s low of 6195 held as a support that would allow the FTSE 100 to reach 6300. The index reached the high of 6296 on a NFP print of 211k compared with a median estimate for a 200k gain in a Bloomberg survey of economists.
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10 years 4 months ago #9572
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Replied by Jelle on topic Dagelijkse Markt Analyse 8 December 2015
DAGELIJKSE MARKT ANALYSE 8 DECEMBER 2015
• Oil stabilized in 37 region after overnight crash, OPEC’s output quota was left unguarded
• Copper also calmed down and ignored a miss in China’s trade data
• Gold rebounded following China data, after a tumble during the commodity rout
Oil price stabilized today in Asia after a crash to a new 6-year low at 37.50 in US session, following news of OPEC’s inability to agree on daily output quota. The semi-annual meeting wrapped up on Friday without any resolution to tame low price, leaving the door open on existing quota of 30 million barrels a day. The prospect of a serious global supply-demand imbalance may retain oil under $40 for a while.
Rest van het artikel
• Oil stabilized in 37 region after overnight crash, OPEC’s output quota was left unguarded
• Copper also calmed down and ignored a miss in China’s trade data
• Gold rebounded following China data, after a tumble during the commodity rout
Oil price stabilized today in Asia after a crash to a new 6-year low at 37.50 in US session, following news of OPEC’s inability to agree on daily output quota. The semi-annual meeting wrapped up on Friday without any resolution to tame low price, leaving the door open on existing quota of 30 million barrels a day. The prospect of a serious global supply-demand imbalance may retain oil under $40 for a while.
Rest van het artikel
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10 years 4 months ago #9575
by Jelle
"All right. This one time I'll let you ask me about my affairs."
Replied by Jelle on topic Dagelijkse Markt Analyse 9 December 2015
DAGELIJKSE MARKT ANALYSE 9 DECEMBER 2015
• Australian Dollar May Bounce as Risk Appetite Recovers After Sharp Drop
• New Zealand Dollar Declines as Markets Position for RBNZ Rate Decision
• Euro, Yen Gain on Risk Aversion in Asia But Momentum May Be Fleeting
The New Zealand Dollar underperformed in overnight trade. The move tracked a drop in 3-month borrowing costs, hinting it may have reflected pre-positioning ahead of tomorrow’s RBNZ monetary policy announcement. Traders are pricing in a 64 percent probability of a 25 basis point rate cut, according to OIS-derived estimates.
Rest van het artikel
• Australian Dollar May Bounce as Risk Appetite Recovers After Sharp Drop
• New Zealand Dollar Declines as Markets Position for RBNZ Rate Decision
• Euro, Yen Gain on Risk Aversion in Asia But Momentum May Be Fleeting
The New Zealand Dollar underperformed in overnight trade. The move tracked a drop in 3-month borrowing costs, hinting it may have reflected pre-positioning ahead of tomorrow’s RBNZ monetary policy announcement. Traders are pricing in a 64 percent probability of a 25 basis point rate cut, according to OIS-derived estimates.
Rest van het artikel
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