Forex Success Stories – What To Expect Out Of FOMC and RBNZ This WeekOctober 27, 2013
What a week in front of us! The FOMC (Federal Open Market Committee) in the United States and the RBNZ (Reserve Bank of Nea Zealand) will announce monetary policies statements today.
We look with interest at these releases. Firstly, anything that comes out of the US brings volatility on markets. Secondly, the recent rhetoric from RBNZ was extremely bearish on the kiwi.
Moreover, we expect the same to follow this week. As such, a lower NZD should be one of this month's Forex success stories.
Forex Success Stories This Month
Because of that, we look to re-enter on the long side on the AUDNZD pair. We might have a powerful move to come and this time the fundamentals align with technicals.
The Canadian GDP (Gross Domestic Product) comes this week too. We are bearish on the CAD all over the dashboard!
This release should come in line with this week's bearish picture for the Canadian economy. Hence, a lower GDP print will pave the road for CAD to attack the 1.06 area.
Regarding the FOMC, expect more hesitation and controversy. Look for prices until Wednesday to try to keep current ranges and only after the FOMC, starting with Thursday, to see some positioning for the end of year trading.
In other words, crosses will travel until the FOMC statement. After that, majors will most likely dominate. It remains to be seen.
Capital Properties FX
October 27, 2013