That’s a bit of a late revision as markets have ruled out both June and July for quite some time now. As of today, the odds of a September move are priced at a ~58% probability with just ~36 bps of rate cuts for the year.

This article was written by Justin Low at www.forexlive.com.

Fundamental
Overview

The USD got a boost
yesterday from the strong US
PMIs which lifted Treasury yields and put in question the rate cut in
September with the probability falling to roughly 60%. I would argue
that the details weren’t that bad on the inflation front but overall good for
the growth side. If the market digest it as good news today, we should see the
risk-on sentiment returning which is generally negative for the greenback.

The NZD,
on the other hand, remains supported from the hawkish RBNZ decision
where the central bank pushed further out the timing for a rate cut and even
added that they considered a rate hike. If the risk-on sentiment returns, the Kiwi
will likely rise to new highs.

NZDUSD Technical
Analysis – Daily Timeframe

On the daily chart, On the
daily chart, we can see that NZDUSD broke above the trendline
recently following the US CPI report and consolidated around the highs. This breakout
opened the door for a rally into the 0.6217 swing level.

NZDUSD Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see that the buyers continue to step in around the upward trendline where they
will also have the 50% Fibonacci retracement level for confluence.
The sellers, on the other hand, will need to see the price breaking below the
trendline to invalidate the bullish setup and position for a drop into the 0.60
handle.

NZDUSD Technical Analysis
– 1 hour Timeframe

On the 1 hour chart, we can
see that we’ve been stuck in a range between the 0.6095 support and
0.6140 resistance. A breakout on either side should trigger a bigger move as
the momentum will likely pick up.

It’s unlikely that we will
see it to the upside today though given that the upper limit of the average daily range stands right at the resistance and we don’t have any catalyst that
could lead to a bigger move. Therefore, the risk for the buyers is a breakout
to the downside which could happen if the market interprets yesterday’s data
as bad news for inflation.

Upcoming
Catalysts

There are no
catalysts today so the market should trade based on the yesterday’s US PMI by
either fading the moves or print new lows.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Leading
Cryptocurrency broker, PrimeXBT, has just launched a total revamp of its brand,
website, and all-in-one platforms, as part of its vision to “democratise the
financial markets” and “make investing available to all”.

PrimeXBT’s
new look and feel debuts alongside equally substantial upgrades to the broker’s
product offering, including lower fees across 100+ CFD markets, increased
leverage on Crypto CFDs, and new fiat payment options, aiming to offer traders
more for less. This is in addition to offering traders the ability to buy
popular Cryptocurrencies like BTC, ETH, USDT, and USDC outright. The revamp is
accompanied by a campaign simply titled “We listen”, where the Crypto broker
reveals that a lot of the upgrades were inspired by client feedback.

Additional
upgrades to PrimeXBT’s offering include a substantially improved user
experience across its website, webtrader, and app. The revamped PrimeXBT
website now also features a ‘News’ section, so traders can get the latest news
and insights from the Crypto world, and other CFD markets. Finally, the broker
also debuted a new Partnership Program. Crypto Affiliates can earn up to $2,500
in CPA per client, and Introducing Brokers (IBs) can get up to 50% RevShare,
making PrimeXBT’s the most competitive program currently on the market.

Aleksandr
Khvoinitskii, Head of Crypto Growth for PrimeXBT had this to say:

“Our
vision at PrimeXBT has always been to provide people with easy and immediate
access to the markets, as well as the education and tools they need to succeed,
regardless of their experience. We want to give the world control over their
finances, once and for all, and we believe this revamp brings us closer to
realising that vision.”

The
Crypto broker’s core brand values are clearly displayed on the upgraded
PrimeXBT website; innovation, client-focus, empowerment, and transparency. All
four are in clear focus with this wide-reaching revamp. The addition of new
tools to the broker’s webtrader and app attest to innovation, while the
simplified user experience empowers traders of all levels to take control of
their finances. Making the language used across its website and platforms as
clear and easy-to-understand as possible shows transparency, while helping
build trust with their users. Finally, all of the changes and upgrades clearly
reflect PrimeXBT’s client-focus, incorporating user feedback to improve the
overall experience on offer.

About
PrimeXBT

PrimeXBT (https://primexbt.com) offers
the only all-in-one trading platform that allows clients to buy and sell
Cryptocurrencies, and use them to trade 100+ popular markets including Crypto
Futures, and CFDs on Crypto, Forex, Indices, Stocks, and Commodities. Since
being founded in 2018, PrimeXBT has grown exponentially to serve 1,000,000+
traders in 150+ countries all around the world. Clients enjoy the confidence of
trading with an award-winning brand, committed to security, and benefit from
round-the-clock support.

Disclaimer:
The content provided here is for informational purposes only and is not
intended as personal investment advice. Past performance is not a reliable
indicator of future results. The financial products offered by the Company are
complex and come with a high risk of losing money rapidly due to leverage.
Virtual assets are inherently volatile and subject to significant value
fluctuations, which could result in substantial gains or losses. These products
may not be suitable for all investors. Before engaging, you should consider
whether you understand how these leveraged products work and whether you can
afford the high risk of losing your money. PrimeXBT does not accept clients
from Restricted Jurisdictions as indicated in our website.

This article was written by FL Contributors at www.forexlive.com.

Barclays notes that: „Markets had reacted to slightly softer US data in May, as seen in outsized moves to PPI, CPI, and retail sales, with bonds rallying and stocks reaching new highs. This will likely trigger more rebalancing needs to sell dollars at month-end.“ Adding that „although the broad rally extended to other G10s, the large market cap in US equity markets has dominated hedging flows“ on the month. Taking that into consideration, their model „suggests this dollar-selling signal is consistent across G10s“.

This article was written by Justin Low at www.forexlive.com.

• German economy fared better than expected in Q1
• Wage developments have been strong but we expected it to flatten

For one of the more hawkish members, the headline comment is pretty much a concession that they will cut rates in two weeks‘ time.

This article was written by Justin Low at www.forexlive.com.