Nigeria News which to informed forex market traders that the upcoming RBNZ Interest Rate decision on Thursday, 11 May, 2017, may trigger abnormal market conditions including, but not limited to:
- Extreme market volatility
- Thin market liquidity
- Abnormal spreads
- Slippage on executed orders
- Pricing gaps
Please note that, as the news release is scheduled to take place during the daily bank rollover, there is a high possibility of increased volatility which is very likely to affect NZD-based forex market instruments.
In light of the above, Nigeria News wish to inform all you that forex brokers may switch all the NZD-based instruments to “Close-Only” mode from 10 May, 23:30:00, to 11 May, 00:30:00, 2017 (MT4 Server Time).
We strongly encourage you to take this information into consideration when planning your forex trading strategy, and to ensure that you have sufficient funds in your account to cover your open positions.
This also includes “hedged” positions, which face the possibility of a Stop Out in case of widening spreads.
If you have any questions, please don’t hesitate to contact your dedicated Account Service Managers.