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Market Mood EURNZD 25.11.20

Market Mood EURNZD 25.11.20

Market Mood EURNZD 25.11.20

in Weekly Forecasts

Listen to the latest market mood for the EURNZD pair.

Weak EUR, Strong NZD

Expectations of the RBNZ keeping rates on hold rather than moving to negative rates have increased after New Zealand PM Arden has requested Governor Orr to consider house prices in setting monetary policy. This saw a sharp rise higher in NZ 10 year bonds as the RBNZ are now seen as even less likely to ease rates.

The EUR remains bearish with deflationary concerns, growth concerns, and delays in the recovery fund and budget.

Therefore expect EURNZD sellers on pullbacks.

Trade Risks:

  • The main risk to this trade is if Governor Orr comes out tonight and is bearish regarding future rate moves.
  • The other risk is if the RBNZ financial stability report paints a more bearish picture regarding the NZD economy.

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Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

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