Analyst
A new month is finally here and coincides with the week's first trading day as traders scramble for direction and fresh insight on different asset classes.
The stock market continued its recent resurgence as the fresh flow of liquidity in the last couple of days outweighed the sentiment around tightening from Central banks' around the world. The Greenback in recent trading days has been limited to narrow trading and has struggled to hold its way against other major currencies.
We quickly delve into key economic data expected to be released this week, and the expected impact on different financial Instruments.
Cash Rate and RBA Rate Statement from the Reserve Bank of Australia is expected to be made available on Tuesday with the expectation of a 50 basis point hike. This means that the bank is continuing its aggressive monetary policy and could in turn raise the risk of economic slowdown and reduction in consumer spending. I expect the third consecutive hike from the RBA to still lend strength to the Aussie before the expected weakness in the labour market becomes obvious.
I expect the Bank of England to speed up its fight against inflation as the bank is set to accelerate a historic pivot away from the era of cheap money and continue its aggressive rate hike with another 50 basis point this week.
Job data from Canada and United States on Friday. The downward review of the eagerly awaited Non-Farm Employment Change data might be a pointer to the impact the aggressive move of the Central Bank is negatively impacting the labour market. The United States technically entered a phase of recession after posting 2 consecutive quarters of declining GDP. Although the White House has downplayed the fears recent data from the United States says otherwise. If things continue as they are we might get to witness a massive shedding of weight from the Greenback enabling other currencies to regain some of the previously lost ground.
![]()
When I joined the Rally family, I had zero knowledge about forex. I attended their seminars and lectures and it was a thorough and quality experience. Talking about my success in forex , it’s a steady process , I’ve enjoyed lots of profits and a few losses. I’m grateful for the rally trade foundation I have, I look to grow from under the wings of Rally.
Kobi
![]()
I was told I could make money in my comfort zone, then I thought; “this could actually happen in my dreams”. But guess what, I made money and I’m still making money in my comfort zone with RALLY TRADE. To my account manager OLUWASEUN: thank you for keeping to your words and for being nice at the same time, thank you for having my back, you’re the best.To RALLYTRADE: thank you for this opportunity and for letting me know I could do more and better with myself..
Ebere Uzodinma
![]()
I am so much impressed not by anybody's action or motivation to pronounce my encounter with rally trade company. I would love to say this company has done so much in my life; personally. I listen to a radio station programme about a seminar/training on how to trade forex, I planned to attend though I don't believe it will work for me. After the training I got a call from one of Rally trade staff, in person of Tamuno who done so much to convince me to go in for the trade. This young girl have been so impacting since I stated the trade and she has never for once ignore my request for support and advice; I so much appreciate you...
Oluwatuyi Timileyin Samuel
![]()
THANK YOU, THANK YOU, THANK YOU Rally trade team for the excellent work you are doing. I recommend rally trade for anyone who want to profitably trade Forex on a consistent basis.
Oluwaseun Kayode
![]()
I have been with rally trade broker for one year now, they are reliable broker and they have excellent performance in term of training, customer service and prompt payment of profit withdrawal. Morealso, i am also beneficiary of one of their partner program (introducing broker) which I have been receiving payment for monthly commission on it. I recommend Rally trade to d prospective individual and company that intend to trade in forex . Thanks to Rally Trade
Adefuwa Ayodele