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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