Forex News for 9 March, 2023

My FX List
March 9, 2023
286 Views
GBP/USD
  • On March 7th, the Reserve Bank of Australia (RBA) is anticipated to increase its interest rate by 25 basis points to a decade-high of 3.6%, with potential future rate increases if the March statement contains the same outlook as the February statement.
  • Investors are watching for hawkish signals in Powell’s semi-annual monetary policy report on March 7, but he is unlikely to commit to a specific course of action before the release of the United States’ labour and inflation data.
  • On March 8th, the Bank of Canada (BOC) is anticipated to maintain its interest rates at 4.5%, following a record-breaking pace of 425 basis point rises over the previous ten months.
  • At its policy update on March 10th, the Bank of Japan (BOJ) is anticipated to retain its ultra-loose policies, including interest rates and yield curve controls.
  • On March 10th, non-farm payrolls in the United States are anticipated to exceed 200K, while the unemployment rate and average hourly earnings remain at 3.4% and 0.3%, respectively.
  • Due to a continually low initial jobless claims trend and positive surprises in the business employment indices, analysts anticipate additional upside for this week’s U.S. labour data.
  • The psychological support level of.6700 is preventing the AUD/USD pair from reaching new lows, and on the daily time frame, the 100 SMA appears poised to cross above the 200 SMA.
  • The AUD/USD pair could either rebound from its present levels and retest prior areas of interest, depending on market expectations and risk-taking behaviour, or it might shatter its.6700 support and fall to prior support levels of.6600 or.6550.
  • ADP’s report is anticipated to indicate an increase of 195K, but JOLTS job vacancies are anticipated to decline on March 10 from 11.01M to 10.61M, which could reduce NFP rumours.
  • The Fed may have more ability to hike interest rates even higher or to keep them there for longer than anticipated if the NFP report is another solid one.
Author My FX List