Australian CPI Reaches 8.4%; New Zealand Inflation Drops Slightly; Gold Reaches 9-Month High at $1942
Australian CPI came in higher than expected, showing an increase in its annualized rate to 8.4% at a time when inflation is beginning to show signs of sustained drops in most G20 nations. the RBA is now seen as more likely to step up rate hikes, sending the Aussie firmly higher. remains valid after Gold make a new 9-month high yesterday, and we have seen Copper maintain its recent strong bullish breakout.
These assets are attractive to long-term trend traders in the long direction right now, as higher prices here are likely over the coming days. In the Forex market, the US Dollar is again declining weakly. The Australian Dollar is clearly the strongest major currency, while the New Zealand Dollar is the weakest.
remains within a valid bullish trend, so it is likely we will see higher prices there over the coming days, but the AUD/USD currency pair is most in focus right now The Bank is expected to hike its overnight rate by 0.25% from 4.25% to 4.50%.There are reports that the Bank of Japan will start to phase out its special stimulus measures such as yield curve control shortly after a new governor is appointed during the coming months.
decreased last week for the fifth consecutive week, but there are serious doubts over the veracity of China’s official statistics, which almost certainly dramatically understate new coronavirus cases.million with an average case fatality rate of 1.Top Forex Brokers
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