Tuesday mornings call for some funny sh*t to get things going.

Tell me you haven’t followed a forex signal provider who sounds exactly like this guy? 💀

@forex.funny

ke blowin 😅😅... double tap if you love classic forex trader #forexjokes no 6

Only have a minute? ⏱

Trade Of The Day 📈

Wednesday News

Huge day for the USA. 👀 🇺🇸

Here’s what you’re in for:
(All times in EST)

• 14:00 — Enough is Enough. Are the rate hikes over? 🧐

  • Events: (1) Fed Interest Rate Decision
    (2) Monetary Policy Statement
    (3) FOMC Economic Projections
    (4) Interest Rate Projections - 1st year
    (5) Interest Rate Projections - 2nd year
    (6) Interest Rate Projections - Current
    (7) Interest Rate Projections - Longer
    (8) FOMC Press Conference

  • Major pairs to watch: USDCAD, EURUSD, XAUUSD

• 17:45 — New Zealand Heading For A Recession? 👀

  • Event: Gross Domestic Product (QoQ)(Q1) & (YoY)(Q1)

    • Major pairs to watch: NZDUSD

• 21:30 — Australia's Hot Job Market On The Decline? 👇🏼

  • Event: Employment Change s.a.(May) & Unemployment Rate (May)

  • Major pairs to watch: AUDUSD

• 22:00 — China’s Big Shopping Spree 🛍

  • Event: China Retail Sales (YoY)(May)

  • Major pairs to watch: USDJPY

Enough is Enough. Are the rate hikes over? 🧐

That CPI came in at a good time huh? 👀

But will the drop to 4.0% from 4.9% be enough to alter the Fed Interest Rate decision tomorrow?

Inflation in the USA is definitely on it’s way down but maybe not fast enough to meet the 2% goal. With current inflation at DOUBLE the target, Feds may have to continue those rate hikes.

But not tomorrow. Experts say the consensus tomorrow is a pause for the first time in 18 months! 🥳

Interest rates should stay the same at 5.25%.

4.0% inflation from a high of 9% last June (2022) isn’t too shabby. 🤷‍♀️

Economic projections are also on their way.

This meeting will give us some insight as to where policymakers in the US see interest rates being at the end of the year. The consensus is 4.3%.

Powell will take the stage to deliver the news, good or bad, and paint us a picture of how the meeting went behind closed doors.

This interest rate pause could be signalling the end of the rate hikes or just a brief kindness from the Feds. Either way, even if the rates continue to rise, the peak shouldn’t be much further. 🏔

New Zealand Heading For A Recession? 👀

Are we going to see our second technical recession in one week? 😳

New Zealand is going to release their first quarter GDP and it’s not looking so good.

Following a 0.6% decrease last quarter, the consensus for this report is another decrease of 0.1%.

Expect NZDUSD ↓

Remember the recession rule of thumb 👍🏻: two consecutive quarters of negative gross domestic product (GDP).

New Zealand seems to be singing the same song as the rest of the world. With 12 interest rate hikes from their central bank, they’ve had to tighten their budgets.

Not a lot of extra cash to spend, not much to contribute to the economy. 💰

StatzNZ released a survey for the March 2023 quarter showing that 9 out of 16 regions in New Zealand had lower sales so far this year.

Now I know a total value of $30B looks like a lot money but that’s down 0.3% from last quarter. 👇🏼

Plus compared to last year, sales were down 4.1%.

Australia's Hot Job Market On The Decline? 👇🏼

Are we in for another surprise from Australia?

Last month the forecast for the number of employed Australians was an increase of 25,000 jobs. And well, the mark was certainly missed.

Employment ending up falling by 4,300 in April. 📉

This came after a huge influx of jobs in both February and March with roughly 125,000 jobs added to the economy in just two months.

But this wasn’t the first time experts got in wrong. 👀

• December 2022 - Consensus: +22.5K jobs, Actual: -20K jobs

• January 2023 - Consensus: +20K jobs, Actual: -10.9K jobs

The consensus for May?

An increase of 15,000 jobs. 👆🏼

Expect AUD/USD ↑

Will we actually see some more Aussies working? Or is the hot job market in Australia officially on the decline? We’ll let you know.

China’s Big Shopping Spree 🛍

It looks like China’s economy might finally be recovering.🤞🏾

Tomorrow they’re going to serve us with the year-over-year retail sales for May.

The consensus?

An increase of 13.7%.

Expect USDJPY ↓

This is following 3 increases in a row from February to April; April coming in HOT at an increase of 18.4%.

Although missing the consensus of 21% by a few points, this was a huge jump from February’s mere 3.5% increase and March’s 10.6%.

This was the fastest pace in the increase of retail sales since 2021. 💨

Where are Chinese consumers spending all of their money?

The following sectors experienced growth over the past year:

• Clothing 🧢

• Tobacco and alcohol 🚬

• Furniture 🛋

• Personal care 🧼

• Cosmetics 💄

• Automobiles 🚗

Technical Tip

ICHIMOKU CLOUD!

This cloud of color helps traders to identify whether a trend is strong or weak.

If the cloud is thick and green, it indicates that the trend is strong and a trader can enter into a long position.

If the cloud is thick and red, it indicates that the trend is weak and a trader can enter into a short position.

You can find it by typing ‘Ichimoku cloud’ in the indicators section of TradingView!👇🏼