{"id":56566,"date":"2023-02-21T11:19:41","date_gmt":"2023-02-21T09:19:41","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=56566"},"modified":"2025-10-17T09:41:11","modified_gmt":"2025-10-17T06:41:11","slug":"packed-calendar-to-increase-volatility","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/en\/packed-calendar-to-increase-volatility\/","title":{"rendered":"Packed calendar to increase volatility"},"content":{"rendered":"\n

The USD edged lower against its counterparts yesterday, yet the overall sideways motion seemed to be continued in a day characterized by low volatility and only a few high-impact financial releases. On a fundamental level, the market seems to remain concerned about the Fed\u2019s intentions and we also note the possibility of a default of the US Government, despite that scenario being remote for now. US stock markets continue to send mixed signals, and besides the above issues have also to consider the earnings season and today we note the release of the earnings reports for Coinbase (COIN) as well as retailers Home Depot (#HD) and Walmart (#WMT). Back in the FX market we note the release of RBA\u2019s last meeting minutes<\/a>,  during today\u2019s Asian session. The document was characterized overall from a hawkish tone and it was characteristic that it noted that \u201cinflation in Australia remained too high\u201d and also that \u201cmembers agreed that a further increase in interest rates was warranted\u201d. The document tends to foreshadow further monetary policy tightening with more rate hikes to come and could provide some support for the Aussie on a monetary level. From New Zealand, we note that RBNZ is to release its interest rate decision tomorrow and the bank is widely expected to hike rates by 50 basis points, with NZD OIS implying currently a probability of 97.29% for such a scenario to materialize. Should the bank actually proceed with the aforementioned rate hike and maintain a hawkish tone in its accompanying statement which may imply that more tightening lies ahead, we may see the Kiwi getting some support. Overall, today is expected to be a busy day, with Eurozone\u2019s preliminary PMI readings for February standing out in the European session, while forecasts tend to imply that economic activity in the area is improving. In the American session, we note the release of Canada\u2019s CPI rates and a possible acceleration of inflationary pressures in the Canadian economy, may galvanize BoC\u2019s hawkishness.<\/p>\n\n\n\n

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