Here’s What We Left Out
Skerdian Meta • 1 min read
Having covered the FED meeting, the interest rate decision, as well as the SNB (who didn´t really impact the market), we´re left now with the rest of the economic events to cover.
After the FED last evening, we had the New Zealand GDP numbers for Q4 2016 and they missed expectations by 3 points. The last reading was revised 3 points lower too, so that was a terrible report. However, the Kiwi didn´t suffer that much. Probably because the market was too focused on the Buck.
The Australian employment report was published during the night and that wasn´t any good either. Employment fell and unemployment increased from 5.7% to 5.9%.
The Bank of Japan (BOJ) didn´t offer us much in the press conference and they left the rates unchanged, so nothing from the eastern front. Our forex signal in USD/JPY looks fine at least.
Moving over to Europe, the Dutch threat to the EU is now subdued as the anti-EU candidate had a loss. So, Europe is feeling a bit safer now, while the Queen of the Brits gave the green light today for Article 50.
Looks like Brexit starts now (a few days at best), but the morons in charge of the UK government (excuse my French) are going in all confident and arrogant without a contingency deal on the Brexit plan. Overconfidence is the main cause of death for forex traders, but it looks like it will be the case for an entire nation too.