Senior Analyst

Passionate about the markets, the excitement, the story driving the markets at the time, the fundamentals and even the technicals.

Welcome to the easyMarkets weekly review where we look back over the results of some of the previous week’s economic indicators. It gives us the chance to reflect on how much expectations were met or missed and to examine a successful trade you could have made this week.

 

Event: RBA Meeting Minutes

Date: Tuesday 20 June 2017 at 01:30 GMT

Markets affected: AUD/USD

Trending hashtags: #aud, #rba

 

There was little impact on the Aussie following the release of the minutes from the Reserve Bank of Australia. The minutes showed very little change from previous comments where officials expressed moderate optimism on the overall health of the Australian economy. With interest rates at record lows at 1.5% for almost a year, there is no sign of any changes likely to take place over the next few months.

 

Event: ECB Policy Meeting

Date: Wednesday 21 June 2017 at 07:0 GMT

Markets affected: EUR/USD, EUR/GBP

Trending hashtags: #eur, #ecb

 

The European Central Bank’s policy meeting gave no surprises to the markets as the common economic community continued their loosened monetary policy. We saw modest support for the price of the euro coming from better than expected data on June’s consumer confidence for the Eurozone. The inflation figures came in at -1, compared to the expected figure of -3.


Event: RBNZ Interest Rate Decision

Date: Wednesday 21 June 2017 at 21:00 GMT

Markets affected: NZD/USD, AUD/NZD

Trending hashtags: #nzd, #rbnz

 

The New Zealand dollar gained positions on Wednesday after the RBNZ confirmed positive forecasts on economic growth. The key interest rate was left unchanged at the 1.75% level.  Confidence from the RBNZ in the future of the national economy cheered the kiwi bulls. The rebound in commodities gave further support to the NZD/USD.

 

Event: US Fed Initial Jobless Claims

Date: Thursday 22 June 2017 at 12:30 GMT

Markets affected: EUR/USD, GBP/USD

Trending hashtags: #usd, #jobs

 

Last week’s jobless claims in the US saw 241,000 applying for the unemployment benefit. The figure went slightly above expectations of 240,000 and the previous week’s figure was also revised up 1,000 to 238,000. Continuing jobless claims now sits at 1.944 million, outstripping the expected 1.928 million. This and other weak growth data may forestall the Fed’s hand for another interest rate hike this year.

 

Trade of the Week

Time in: Wednesday 21 June 2017 at 21:00 GMT
Market : NZD/USD
Investment: $500 with 200:1 leverage
Time out: Wednesday 21 June 2017 at 22:00 GMT

P&L: $1,156

 

If you had bought the NZD/USD with a $500 margin at the price of 0.71963 and closed the deal after the RBNZ interest rate decision on Wednesday which saw the NZD gain 1.1%, you might have more than doubled your investment with a tidy $1,156 profit. Note this example does not take into account spread.

 

https://www.fxstreet.com/economic-calendar

http://www.rbnz.govt.nz/monetary-policy/official-cash-rate-decisions

https://www.rba.gov.au/monetary-policy/rba-board-minutes/

 

 

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