In the last Monetary Policy Statement (MPS) in March, Reserve Bank of New Zealand (RBNZ) is not happy with the currency’s continued appreciation. They cited the New Zealand Dollar trade-weighted exchange rate is more than 4% higher than projected in December. In subsequent meeting in April 28, RBNZ decided to stay put with the OCR (Official Cash Rate) but RBNZ Governor Graeme […]

Short term Elliottwave structure suggests that decline to 13.99 ended wave X. Rally from there is unfolding as a zigzag where wave (a) ended at 15.71, and wave (b) ended at 15.01. Wave (c) of ((w)) is expected to complete at 16.72 – 17.12 area, then it should pullback in wave ((x)) to correct the rally […]

Short term Elliottwave structure suggests that decline to 13.99 ended wave X. Rally from there is unfolding as a triple three where wave (w) ended at 15.6, wave (x) ended at 15.01, wave (y) is proposed complete at 16.47, and 2nd wave (x) pullback is proposed complete at 15.88. While pullbacks stay above 15.88, and more […]

Reserve Bank of Australia (RBA) made a surprise cut of 25 bps earlier today, taking the interest rate to a record low of 1.75%. Before the meeting, analysts have put the probability of a rate cut as much as 50-50 after the dismal figure of CPI last Tuesday April 26. The CPI report last week showed that […]