WikiFX AUD and NZD Struggle in Both Countries Recession| KOL Analysis•Jasper Lo

The commodity currencies AUD and NZD have experienced different levels of retaliatory rebounds since mid-March. This has mainly been driven by the rise in global stock market, particularly US stocks, rather than local economic rally like that in the United States. More specifically, the AUD and NZD have been pushed up by the stock market boom from speculation instead of substantive support.

New Zealand and Australia released key economic data this morning. New Zealand's GDP statistics are lower than previous month and market expectation, with Q1's GDP shrinking 1.6%, creating the biggest decline in nearly three decades. In Australia, the series of employment data released were also disappointing. In May, the unemployment rate rose to 7.1% from the 6.2% in April, while employment population has also dropped by 227,700.

The above-mentioned relevant data revealed the fact that the rise in global stock markets in the past has failed to improve the economies of Australia and New Zealand. Therefore, it is believed that the central banks of both countries will implement easing monetary policies more aggressively in the future. In addition to stepping up QE, there's also possibility of introducing negative interest rates, which has an absolute cooling effect on the Australian and New Zealand dollars that are already at a high level and may end the upward trend.

On the other hand, following strong Nonfarm Payroll, the US retail sales figures also turned out impressive. In comparison, the Fed has no room to cut interest rates in the future, which means that the US interest rate has bottomed out, and there is no more pressure to increase QE. Under this advantage, the US dollar has the opportunity to put pressure on non-USD currencies. AUD/USD may move towards the important support level of 0.6685 and once this support is breached, the pair will see an even more pessimistic outlook. The key support for NZD against the USD is at 0.6158. If it fails, New Zealand dollar will weaken again.

[About The Author]

Since 1987, Jasper Lo has been engaged in the financial industry (forex, futures and gold) for more than 32 years and holds forex R.O., securities and futures broker licenses. Mr Lo is an expert in trading forex, precious metals and commodity futures and an basic and technical analyst.

Over the years, Mr Lo won many individual and team sales champion awards, as well as outstanding employee awards. He was invited, as a guest mentor, to the University of Hong Kong, Guangdong Ocean University and Guangzhou Jinan University. And he was also appointed as the chief training consultant by Hantang Securities and Dongguan Securities in China.

Mr Los experience as guest of honor invited by media including Chinese and English newspapers and columnist:

-Guest of honor invited by TVB New Channels such as Finance Channel, Forex Focus, Global Watch

-Guest of honor invited by Now Finance Channel - Forex Reports

-Guest of honor invited by i-CABLE Finance Info Channel - Forex Opportunities

-Guest of honor invited by ViuTV - Investor Smarter Group

-Columnist of Finance and Forex Market of Ming Pao

-Presenter of Finance and Forex Forecast of Ming Pao

-Presenter of Investment 36 Stratagem and Technical Analysis in 1 Min of Ming Bao Finance

-Appointed lecturer of Ming Pao Investment Seminar and Paid Course

-Author of the best seller Investment 36 Stratagem

-Columnist of Forex Expert, Forex Analyst, Marathon Weekly of ET Net

-Guest of honor of Open Good Morning of ET Net

-Guest of honor of Metro Finance Channel - Market Opening, Instant Market Fighting, Guangdong-Hong Kong Finance, Finances Power, Market Analysis

-Guest of honor of New Era of Investment of RTHK

-Columnist of Capital Commodities of Capital Weekly

-Guest Presenter of Wang Guanyi Online Finance Channel - Fund and Commercial Bond

-Columnist of Wealthub Finance and Investment Smart Platform of Enrich Culture

-Guest presenter of Weekly Investment in the World of Enrich Culture

WikiFX App is a third-party inquiry platform for company profiles.WikiFX has collected 17001 forex brokers and 30 regulators and recovered over 300,000,000.00 USD of the victims.

It, possessed by Wiki Co., LIMITED that was established in Hong Kong Special Administrative Region of China, mainly provides basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, Wiki has set up affiliated branches or offices in Hong Kong, Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted WikiFX to global users in more than 14 different languages, offering them an opportunity to fully appreciate and enjoy the convenience Chinese Internet technology brings. WikiFXs social media account as below:

Facebook:

USA Area：https://www.facebook.com/WikiFX.US/

UK Area：https://www.facebook.com/Wikifx.UK/

Nigeria Area：https://www.facebook.com/WikiFX.ng

Twitter：

Areas where English is an official language：https://twitter.com/WikiFX_Eng

More details about how to download WikiFX App:

Please download WikiFX APP from links below or scan QR code ：

App Store: https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Google Play: https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

If you have any questions, please feel free to contact us at wikifx@wikifx.com

Worried about missing out latest trends in the volatile market？ WikiFX ‘News Flash’ is here to help!

With 24-hour real-time update of forex market data by minute, you can seize the opportunity of every bullish market! Bookmark the link below and follow the market trends immediately!

UK Area：https://live.wikifx.com/uk_en/7x24.html

USA Area：https://live.wikifx.com/us_en/7x24.html

Nigeria Area：https://live.wikifx.com/ng_en/7x24.html

Wiki Forum Forum Function:

In order to help more investors, WikiFX has launched the “WikiFX Forum” forum, which aims to provide urgently needed and professional services to Nigerian forex investors.

The exposure function of “WikiFX Forum” includes the following features:

1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

As long as there is sufficient evidence, a review panel and an executive team will contact the broker to discuss the complaint or expose it directly through the media. Here are the exposure channels:

2: Block low score brokers from entering the forum

3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html