➡️ The NZDUSD pair started the week with a recovery and is trading around 0.70600.
The pair reversed last week in response to a stronger-than-expected rise in the US Consumer Price Index (CPI). The rise in the value of the US dollar pushed the Fed to raise rates earlier than initially expected. The NZD was impacted by better-than-expected Chinese economic data. In October, retail sales and industrial production grew by 4.9% y / y and 3.5% y / y, respectively. In addition to this, the weaker US dollar, which is trading at 95.00, is supporting the pair.
Monday's economic calendar is almost empty. Now market participants will actively follow the speech of the head of the RBA Philip Lowe on Tuesday. US import / export data and monthly retail sales data released on Tuesday will also be in sight to give an idea of the near future. However, the interest rate decision of the Reserve Bank of New Zealand remains key next week.
🔔Proposed deal for this tool🔔:
🔴Entry Point - 0.70605
⛔️Stop Loss - 0.70823
✅Take Profit - 0.69938
Thanks for your comments and likes 👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
The pair reversed last week in response to a stronger-than-expected rise in the US Consumer Price Index (CPI). The rise in the value of the US dollar pushed the Fed to raise rates earlier than initially expected. The NZD was impacted by better-than-expected Chinese economic data. In October, retail sales and industrial production grew by 4.9% y / y and 3.5% y / y, respectively. In addition to this, the weaker US dollar, which is trading at 95.00, is supporting the pair.
Monday's economic calendar is almost empty. Now market participants will actively follow the speech of the head of the RBA Philip Lowe on Tuesday. US import / export data and monthly retail sales data released on Tuesday will also be in sight to give an idea of the near future. However, the interest rate decision of the Reserve Bank of New Zealand remains key next week.
🔔Proposed deal for this tool🔔:
🔴Entry Point - 0.70605
⛔️Stop Loss - 0.70823
✅Take Profit - 0.69938
Thanks for your comments and likes 👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
