U.S. dollar rose after getting signal that Fed may rise the interest rate earlier and may rise 4 times in 2018 as well as stock market fell. However, investor actively bought back on Tuesday so it is negative for greenback. In my opinion, today global markets may keep trading mix.
Early morning today, New Zealand share market may move flat wait at 03.00 a.m. for RBNZ monetary policy and interest rate which forecast unchanged interest rate at 1.75%. In my view, NZD/USD may swing between 0.7246 – 0.7336 points or may edge lower, if FOMC members at 16.50, 20.00 and 21.00 p.m. also signal the increasing interest rate as Powell said. I also suggest seeing initial jobless claim at 20.30 p.m. which shows the labor market in USA.
Bank of England also has an interest decision at 19.00 p.m. which may hold at 0.50% but investor may focus on inflation report. In my opinion, inflation in U.K. may effect to pound strongly. If inflation reduces lower than 3.0%, pound may edge higher than 1.400 dollar and may break 1.4050 dollar to rise to 1.4200 dollar again.
A senior Taiwanese official is urging the government to prepare for Crypto collapse. Bitcoin's market capitalization – around $170 billion when it was trading at $10,000 – would equal one third of Taiwan's foreign exchange reserve. In February bitcoin price had decreases to 6,000 USD.
By Niramon Nitnitiphruet
Financial analyst, Olymp Trade