We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood

We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details

Trader Affiliates

Market News NZD/USD Falls to a Level Not Seen in Over a Week, with Bears Targeting the 0.6100 Level Following RBNZ

NZD/USD Falls to a Level Not Seen in Over a Week, with Bears Targeting the 0.6100 Level Following RBNZ

NZD/USD encounters a robust supply following the RBNZ's decision to maintain the status quo. The precipitous intraday decline appears to have been largely unaffected by the absence of USD purchasing interest. The press release issued by RBNZ Governor Adrian Orr is currently regarded by traders as a significant source of motivation.

TOP1 Markets Analyst

2024-02-28

8597

Following the announcement of the Reserve Bank of New Zealand's (RBNZ) policy decision, the NZD/USD pair has fallen to a level not seen in over a week within the past hour due to heavy selling. Presently, spot prices are fluctuating in the vicinity of 0.6120 and appear susceptible to an extension of the recent retracement decline from a one-month high reached last week.

The RBNZ maintained the Official Cash Rate (OCR) at 5.50% for the fifth consecutive meeting at the conclusion of its February policy meeting, as anticipated. A key factor exerting downward pressure on the New Zealand Dollar (NZD) is this development, which appears to have dissatisfied some investors who had anticipated additional tightening in response to persistent inflation. At 02:00 GMT, attention will be redirected to the press conference of RBNZ Governor Adrian Orr, which is anticipated to generate short-term trading opportunities and introduce some volatility to the NZD/USD pair.

The Grenada Financial Regulatory Commission (GFRC) has a distinguished history of overseeing and regulating the Financial Regulatory industry within Grenada. Established to continue the legacy of financial oversight and regulation, the GFRC serves as the pivotal body for ensuring the stability and integrity of the financial system in Grenada.

Bulls, meanwhile, appear to be unaffected by the dollar's (USD) lackluster price movement, as it struggles to gain meaningful momentum in the face of an impending government closure in the United States. Aside from this, the USD bulls remain on the defensive due to Tuesday's unsatisfactory release of US Durable Goods Orders and a milder tone surrounding US Treasury bond yields, which does little to support the NZD/USD pair. Consequently, this indicates that the direction of least resistance for spot prices is downward, thereby confirming the pessimistic outlook for the near term.