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NZD May Rise on RBNZ Rate Decision Amid Signs of Global Stabilization

Wall Street trade ended the day on a happy note with the Dow Jones, S&P 500 and Nasdaq indices closing 0.50, 0.43 and 0.74 percent higher, respectively. The upbeat tune was amplified by US and European manufacturing, services and composite PMI figures coming in mostly better than expected. This helped lend credence to the notion that the world economy is beginning to show signs of economic stabilization.

The session’s biggest losers were the anti-risk US Dollar and petroleum-linked Canadian Dollar. Corporate credit markets showed signs of easing, particularly in Europe as signals of stabilization cooled fears of default and lower the premium for insuring sub-investment grade debt.

The economic highlight of the session will be the Bank of New Zealand rate decision at 02:00 GMT, putting NZD in the spotlight. Renewed risk appetite has helped push the cycle-sensitive currency higher along with its cycle-sensitive peers, and modest signs of stabilization have buttressed hopes of economic stabilization. In terms of RBNZ policy, this may give the central bank a chance to relax and soften its rhetoric.

A comparatively less-dovish message could push the New Zealand Dollar higher if the urgency to introduce additional liquidity measures is alleviated. Monetary authorities have already deployed the Large Scale Asset Purchases (LSAP) programme which stipulates purchasing NZ$60 billion worth of government bonds. Hints at expanding this policy measure could hurt NZD.

https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/06/23/NZD-May-Rise-on-RBNZ-Rate-Decision-Amid-Signs-of-Global-Stabilization.html

According to Trading Central (3rd party RIA) the NZDUSD is long positions above 0.6232 with targets at 0.6806 & 0.6901 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10794569

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 0.6806
1€ 2,857.14€ 1,428.57€ 3,144.19
5€ 14,285.71€ 28,571.43€ 15,720.96
10€ 28,571.43€ 57,142.86€ 31,441.92
25€ 71,428.57€ 142,857.14€ 78,604.80
50€ 142,857.14€ 285,714.29€ 157,209.60



Gold Futures: Door open for extra upside

Gold climbs to 2020 highs

The ounce troy of the precious metal is navigating fresh yearly highs near $1,770. Rising open interest coupled with positive price action is supportive of the continuation of the uptrend in the very near term. That said, Gold now targets the $1,800 mark per ounce.

https://www.fxstreet.com/news/gold-futures-door-open-for-extra-upside-202006240500

According to Trading Central (3rd party RIA) the GOLD is long positions above 1705.00 with targets at 1825.00 & 1855.00 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10795670

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 1825
0.5 € 3,906.32 € 1,953.16 € 2,518.78
1 € 7,812.64 € 3,906.32 € 5,037.56
5 € 39,063.19 € 19,531.60 € 25,187.80
10 € 78,126.38 € 39,063.19 € 50,375.61
20 € 156,252.76 € 78,126.38 € 100,751.22