Forex Market in Anticipation of hike in BOC
In this week the market mainly focuses on rate hike of BOC since, the market were pricing only forty percent at only one point where as 25 bps rate hike in terms of BOC as anticipated for this week in the market. But it is seen that OECD has taken an strict action against the BOC and ordered them to remove all the policies that leads the investors to increment their betting as the stocks gets rebounded in past week. Therefore, at the end of the week it is noticed that market gets only a seventy percent rate hike since we all know that BOC rate hike is not a done deal in the market. It is seen that there was a recovery seen in the past week in the Canadian Dollar against the major currencies and commodities of the market. The market experts anticipated that the US and UK market is to be returned on Monday or Tuesday so traders have to be cautious while trading in the forex online market.
Also in this week it was predicted that RBA may take meeting for giving details about the minutes of there “pause” taken in the month of may. There were seven meetings taken by the banks and issued the borrowing cost raising up to six times. Although this was expected from the starting of the May month before the intensification of the Euro zone financial crisis and also before the fall of the stock market. There was also a fall seen in the Australian market after fourth of May to 4194 from the high of 4753 index level. It seems to be a 12 percent low but again shows a rebound at the end of the month and reaches to 4479 level. But it is still at a low of 11 percent as compared to a high level of 5048 in the month of April. Overall it is expected in the market for a June hike that RBA should take a move that will ignore the previous statements of RBA, so is Aussie.
Categories: Forex Market
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September 5th, 2010 at 12:40 pm
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