RBNZ decided to remain on hold | 10/05/18

[IronFX The Global Leader in Online Trading]( 10th May 2018 [start trading]( [open demo account]( All trading involves risk. It is possible to lose all your capital. Main Points of Today RBNZ decided to remain on hold - RBNZ decided to remain on hold at +1.75% as was widely expected during today’s early Asian morning. - The accompanying statement had a more dovish tone as it stressed out twice that the bank does not expect it’s interest rate to change or a while in the future, characterising the +1.75% as an expansionary level. - Also the statement mentioned an unprecedented increase in employment and that the best contribution to maximising sustainable employment would be to keep the OCR at it’s current level. As for the future, the direction of the next move is equally balanced. - Overall, the NZD/USD dropped by some 30 pips, as the market expected the decision. We see the case for a weaker kiwi in the near future as the RBNZ seems quite comfortable with it. Singapore most probably meeting place of Kim and Trump - Media suggested that Singapore will be the meeting place of Kim and Trump, after Mike Pompeo , the US Secretary of state returned from North Korea where he made preparations for the upcoming meeting. - Pompeo, returned to the US with three released American citizens. The North Korean move was considered as a gesture of goodwill towards the US. - On other news, S. Korea, China and Japan agreed that North Korea should be given aid if it denuclearizes and highlighted their unity amid North Korea moves. - Should there be further positive news on the issue we could see stability starting to settle in the region. Today’s other economic highlights - UK: Avast IPO on the London Stock Exchange Manufacturing Output for March, Survey:-0.2%mom Prior: -0.2% mom, 08:30 (GMT), could weaken the GBP Trade Balance for March, Survey: -11.25B Prior: -10.20B, 08:30 (GMT), could weaken the GBP BoE Interest Rate decision, Survey: +0.50%, Prior: +0.50%, 11:00 (GMT), 86.30% probability to remain on hold (GBP OIS) Inflation report, 11:00 (GMT) - US: CPI for April, Survey: +2.5% yoy Prior: +2.4% yoy, 12:30 (GMT), could strengthen USD Core CPI for April, Survey: +2.2% yoy Prior: +2.1 yoy, 12:30 (GMT), could strengthen USD Initial Jobless claims, Survey: +218k Prior:+211K, 12:30 (GMT), could weaken the USD [Download full report]( THE MARKET NZD/USD [Image title] - Support: 0.6925 (S1), 0.6852 (S2), 0.6780 (S3) - Resistance: 0.6985 (R1), 0.7035 (R2), 0.7110 (R3) USD/JPY [Image title] - Support: 109.20 (S1), 108.57 (S2), 107.90 (S3) - Resistance: 109.76 (R1), 110.45 (R2), 111.45 (R3) [View all Market insights]( [View IronFX Week Ahead report]( Economic Calendar Prepared by: Peter Iosif [Facebook]( [Linkedin]( [Instagram]( [Twitter]( [Google+]( [YouTube]( - Tel: +44 (0) 20 3282 7777 - Email: support@ironfx.com Disclaimer: This information is not considered as investment advice or investment recommendation but instead a marketing communication. High Risk Trading Warning: Our services include products that are traded on margin and carry a risk of losing all your initial deposit. Before deciding on trading on margin products you should consider your investment objectives, risk tolerance and your level of experience on these products. Trading with high leverage level can either be against you or for you. Margin products may not be suitable for everyone and you should ensure that you understand the risks involved. You should be aware of all the risks associated in regards to products that are traded on margin and seek independent financial advice, if necessary. Please read IronFX’s Risk Disclosure statement. Licences and Authorisations IronFX is a trade name of Notesco Financial Services Limited (formerly IronFX Global Ltd). Notesco Financial Services Limited is authorised and regulated by CySEC (License no. 125/10) Group Licences and Authorisations 8Safe UK Limited is authorized and regulated by the Financial Conduct Authority (FCA no. 585561) GVS (AU) Pty Limited is authorized and regulated by ASIC (AFSL no. 417482) IronFX does not offer its services to residents of certain jurisdictions such as USA, Iran, Cuba, Sudan, Syria and North Korea. [Unsubscribe](