LiteForex - Analytics


    842.00 7.50/10
    81% of positive reviews

    NZD/USD: what will Janet Yellen’s speech contain? on 09.02.2016

    Due to New Year holiday in China, Chinese financial markets will be closed this week. It means that a strong factor, as Chinese stock market, affecting movement direction of the global stock market, will be absent this week. Therefore, the movement in the commodity currencies, such as CAD, AUD and NZD will depend on oil price and the price of commodities and also on such fundamental factors as the speech by Janet Yellen, the head of the US Fed (Wednesday 17:00 GMT 2), and other important economic news. The pair NZD/USD can be affected of the following news this week: on Wednesday 17:30 (GMT 2):US Department of Energy will release the data on oil and oil products reserves for the last week. On the same day at 23:30 business activity index in the manufacturing sector of New Zealand for December will become known. On Friday important US inflation data will be released and at 15:30 the data on retail sales in January will be known. It is expected that the index will grow (0.1% against the decline of 0.1% in December). If the forecast is not correct, the USD will decline against major currencies, including NZD/USD. Additional factor of decline can be the speech of the president of US Fed in New York William Dudley, scheduled for Friday, 17:00 (GMT 2). Last week Dudley said that financial conditions had tightened and in this case, the rise in the USD can have strong impact on the US economy.

    However, the main driver of this week will be the speech by Janet Yellen, scheduled for Wednesday at 17:00 (GMT 2). Any indications showing that interest rate can be raised at the meeting of the US Fed in March, will cause the decline in the USD in the market.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree