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Macro

NZD/USD Outlook (27 January 2022)Overall, NZD/USD is ranging across. Recently, NZD/USD rejected the resistance zone of 0.67100 after the hawkish tone delivered by the U.S. FOMC. The New Zealand CPI q/q data (Actual: 1.4%, Forecast: 1.3%, Previous: 2.2%) released earlier today indicated a slowdown in the pace of inflation during the fourth quarter of 2021. NZD/USD’s next support zone is at 0.65400 and the next resistance zone is at 0.67100. Look for selling opportunities of NZD/USD.
Short
by JinDao_Tai
USD/CAD Outlook (27 January 2022)Overall, USD/CAD is ranging across. Recently, USD/CAD bounced off the support zone of 1.26100 after the hawkish tone delivered by the U.S. FOMC. During the monetary policy meeting, the Bank of Canada (BoC) kept interest rate unchanged at 0.25%. The central bank has also removed its exceptional forward guidance on its policy interest rate. Furthermore, the BoC highlighted that once it starts to increase interest rate, it will consider exiting the reinvestment phase of its bond purchase and start the unloading process. USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200. Look for short-term buying opportunities of USD/CAD.
Long
by JinDao_Tai
USD Overview (27 January 2022)Yesterday, USD strengthened against all major currencies. During the monetary policy meeting earlier today, the FOMC held interest rate at the targeted range of 0-0.25% while making no changes to QE tapering. The central bank is also expecting QE to end in March. During the press conference, Chairman Powell highlighted that the committee members agree that interest rate hike will soon be appropriate due to the elevated inflation. On the matter of uploading of bonds, the central bank Chief said that more details will be provided during the next meeting in March. The U.S. Advance GDP q/q data (Forecast: 5.3%, Previous: 2.3% revised 2.0%) will be released later at 2130 (GMT+8).
TVC:DXY
by JinDao_Tai
NZD/USD Outlook (26 January 2022)Overall, NZD/USD is ranging across. Recently, NZD/USD rejected the resistance zone of 0.67100. The New Zealand CPI q/q data (Forecast: 1.3%, Previous: 2.2%) will be released tomorrow at 0545 (GMT+8). Currently, NZD/USD is testing the resistance zone of 0.67100 and the next support zone is at 0.65400. If NZD/USD rejects the resistance zone of 0.67100, look for short-term selling opportunities up until the FOMC announcement tomorrow at 0300 (GMT+8).
Short
by JinDao_Tai
AUD/USD Outlook (26 January 2022)Overall, AUD/USD is ranging across. The Australian CPI q/q data (Actual: 1.3%, Forecast: TBA, Previous: 0.8%) released yesterday indicated that inflation ran hotter during the fourth quarter of 2021 than the third quarter. Australian banks will be closed today in observance of Australia Day. Expect lower trading volatility and volume during the usual Australian market hours. AUD/USD’s next support zone is at 0.71000 and the next resistance zone is at 0.73000. Look for short-term buying opportunities of AUD/USD up until the FOMC announcement tomorrow at 0300 (GMT+8).
Long
by JinDao_Tai
USD/CAD Outlook (26 January 2022)Overall, USD/CAD is trending downwards. Recently, USD/CAD traded into the support zone of 1.26100. The Bank of Canada (BoC) will be announcing their monetary policy decision later at 2300 (GMT+8). With the ever-rising inflation in Canada, the central bank may increase interest rate by 0.25% in an attempt to tame inflation. A press conference will be held at 0000 (GMT+8). During this time, there may be volatility in CAD. Currently, USD/CAD is testing the support zone of 1.26100 and its next resistance zone is at 1.29200. If USD/CAD bounces off the support zone of 1.26100, look for short-term buying opportunities of USD/CAD up until the Bank of Canada announcement at 2300 (GMT+8).
Long
by JinDao_Tai
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