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The RBNZ Gives the Kiwi a Boost ahead as the Focus Shifts to the EUR and USD

The Kiwi Dollar is on the move early as the RBNZ talks up the economy and downplays the likely effects of the coronavirus. Stats and Powell are in focus later.

The Kiwi Dollar moved from $0.64118 to $0.64580 upon release of the rate statement and monetary policy statement. At the time of writing, the Kiwi Dollar was up by 0.87% to $0.6462.

For the EUR

Following some particularly disappointing production numbers out of France, Germany, and Italy, today’s figure will need to be particularly dire to move the dial. Expectations are for production to fall by 1.5% in December, so expect the EUR to soften on any weaker numbers.

For the Pound

It’s a particularly quiet day ahead on the economic calendar, with no material stats due out of the UK to provide direction.

Hopes are that Johnson’s landslide victory will deliver a near-term boost to growth ahead of next month’s budget.

Whether the Pound can hold onto $1.29 levels and eye a return to $1.30 levels remains to be seen, however, Much will depend on how the government progresses with key trading partners on trade talks.

https://www.fxempire.com/news/article/the-rbnz-gives-the-kiwi-a-boost-ahead-as-the-focus-shifts-to-the-eur-and-usd-632581

Coronavirus fears contained, Powell keeps the dollar bid

EUR/USD is hovering around 1.09 after nearing multi-year lows on Tuesday. Christine Lagarde, President of the European Central Bank, repeated her accommodative policy is needed. The bank will reportedly refrain from including house prices in its inflation calculations, implying lower rates for longer.

The New Zealand dollar stands out with a near 1% rally after the Reserve Bank of New Zealand left rates unchanged at 1% and released forecasts pointing to no rate cuts down the line. The Australian dollar is edging up as well.

https://www.fxstreet.com/news/forex-today-coronavirus-fearrs-contained-powell-keeps-the-dollar-bid-bitcoin-blasts-higher-202002120656

According to Trading Central (3rd party RIA) the EURGBP could be heading UP to 0.8641 if it does not go BELOW 0.8324

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10612452

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 0.8641
1€ 3,333.33€ 1,666.67€ 2,563.70
5€ 16,666.67€ 33,333.33€ 12,818.52
10€ 33,333.33€ 66,666.67€ 25,637.04
25€ 83,333.33€ 166,666.67€ 64,092.60
50€ 166,666.67€ 333,333.33€ 128,185.20

According to Trading Central (3rd party RIA) the EURNZD could be heading UP to 1.7486 if it does not go BELOW 1.6796

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10612147

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 1.7486
1€ 5,000.00€ 2,500.00€ 3,650.42
5€ 25,000.00€ 50,000.00€ 18,252.08
10€ 50,000.00€ 100,000.00€ 36,504.16
25€ 125,000.00€ 250,000.00€ 91,260.40
50€ 250,000.00€ 500,000.00€ 182,520.80