17 August 2022 tewysyst some new content Afternoon Session Analysis
New Zealand Dollar surged as hawkish tone from RBNZ.
The New Zealand Dollar rebounded from its lower following the rate hike decision from Reserve Bank of New Zealand. According to the latest monetary policy statement, the Monetary Policy Committee (MPC) decided to raise its official cash rate (OCR) from 3% to 2.5%. Besides, the committee also vowed that they would likely to maintain the pace of contractionary monetary policy as the current price stability in the New Zealand still highly uncertain. Recently, the global consumer price inflation has continued to surged as global rising commodity prices. The war in Ukraine continues to underpin high commodity prices, with global production costs and constraints further exacerbated by supply-chain bottlenecks. In addition, the MPC also reiterated that the domestic spending in the country still remained resilient, along with robust employment level. As of writing, the pair of NZD/USD appreciated by 0.19% to 0.6355.
In the commodities market, the crude oil price slumped 0.21% to $87.55 per barrel as of writing. The oil market extends its losses amid rising recession risk as well as the possibility of making deal consensus on the Iran Nuclear continue to weigh down the crude oil price. On the other hand, the gold price depreciated by 0.01% to $1775.15 per troy ounces as of writing as further aggressive rate hike expectation continue to linger in the global financial market .
Today’s Holiday Market Close:
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
02:00 USD FOMC Meeting Minutes
(18th)
this is test new posts 2022-08-17 chery’s test
this is test new posts 2022-08-17 chery’s test