NZDCAD - BUY - 18th November 2021

NZDCAD - BUY - 18th November 2021 (Closed)

Good afternoon team,

Today we are focusing on the NZD due to the RBNZ interest rate decision next week. A survey that carries a lot of clout with the Reserve Bank has shown a very sharp increase in the expectations for future inflation. The results of the latest “Survey of Expectations” carried out quarterly for the RBNZ, will likely increase speculation that the RBNZ may hike the Official Cash Rate by as much as 50 basis points in its November 24 review of interest rates. If we pair this speculation with the downside pressure on crude prices (weaker CAD), from a fundamental perspective the NZDCAD looks attractive for a long play. The market should begin to price in a rate hike leading into the event.

NZDCAD – 4 Hour Charts

Trade Setup: BUY market execution, current price 0.8864, stop loss 0.8764 and take profit 0.9032

Stop loss: 100 pips

Take profit: 168

Trade Setup
BUY - Market Execution


Take Profit

Stop Loss