Here are the latest developments in global markets: FOREX: The Japanese yen remained under pressure versus the US dollar as the 10-year US government bond yields reached fresh 4 ½-year highs at 3.10%. Dollar/yen returned to 112.88 (+0.08%) after peaking as high as 112.96 early today, the highest since July 19, while the dollar index stood flat at 94.16. Following somewhat dovish comments by the ECB chief economist Peter Praet, euro/dollar dropped to a low of 1.1731 before crawling up to 1.1762 (+0.12%). [..]
The Reserve of Bank of New Zealand (RBNZ) will be deciding on interest rates on Wednesday at 2100 GMT. The central bank is expected to hold rates steady at 1.75% and the meeting will be accompanied by a press conference by Governor Adrian Orr, and thus the focus will be on the statement for any updates. In the previous meeting on August 8, the RBNZ left again its official rate unchanged at the record low of 1.75%, saying that economic growth has moderated [..]
Here are the latest developments in global markets: FOREX: The dollar index is higher on Tuesday, albeit by less than 0.10%, looking to extend the marginal gains it posted in the previous session. Meanwhile, the euro spiked higher after ECB chief Mario Draghi struck a more upbeat tone with regards to the bloc’s economic outlook. The pound also bounced as the UK’s Brexit Secretary Raab downplayed some fears. All these came largely at the expense of the yen, which was the [..]
Here are the latest developments in global markets: FOREX: After China canceled planned trade talks with the US on Saturday and new import tariffs took effect, Chinese officials reiterated on Monday that Beijing is ready for a new round of negotiations only if the talks are based on mutual respect. Investors, though, remained positive on the dollar as they widely expected the Fed to shrug off trade risks and deliver another 25 bps rate hike on Wednesday, with dollar/yen trading higher but only modestly [..]
Here are the latest developments in global markets: FOREX: The dollar index – which tracks the greenback’s performance against a basket of six major currencies – is higher on Monday (+0.12%), looking set to extend the gains it recorded in the previous session. The safe-haven yen is also a little higher while risk-sensitive currencies such as the aussie and kiwi are lower, following news that China won’t attend the trade talks it had planned with the US. In the UK, the [..]
All eyes will be on the Federal Reserve policy meeting in the United States next week as markets await the central bank’s response to a firming inflation outlook and rising global trade tensions. The Reserve Bank of New Zealand will too be holding a policy meeting. But it will be a more muted week for economic data, with the main headlines likely to come from inflation and GDP releases, as many Asian markets will be closed at the start of [..]
Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of six major currencies traded higher by 0.1% after touching its lowest since early July of 93.81 earlier on Friday. Still, the index mostly consolidated yesterday’s considerable losses. Dollar-advancing on Friday was most evident against the yen and sterling. The former, unable to attract safe-haven flows, took a beating lately. Evidently, dollar/yen, euro/yen and pound/yen scaled two-, five- and four-month highs on Friday; the latter [..]
Here are the latest developments in global markets: FOREX: The dollar index is higher by a marginal 0.05% on Friday, recouping some of the significant losses it posted in the previous session as risk appetite remained firm and investors pared back more of their safe-haven bets on the US currency. The haven-perceived yen was also on the back foot, performing even worse than the greenback amid this risk-on environment. Meanwhile, the euro and sterling capitalized, both staging a spectacular recovery [..]
Here are the latest developments in global markets: FOREX: British retail sales beat expectations today rising by 0.3% m/m in August, above the -0.2% forecasted, from 0.9% m/m in the preceding month. Yearly, retail sales advanced by 3.5% instead of 2.5% predicted and versus 3.8% in July, driving pound/dollar higher by 1.10% to a fresh 2-month high of 1.3288. Also, pound/yen advanced by 0.96%, jumping above 148.00. In Brexit-related news, the Irish RTE media reported that May sees no deal before October’s EU regular [..]
NZDUSD has been edging higher over the last three days, heading above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. The price reached a new three-week high of 0.6662 earlier in the day, while the technical indicators are confirming the recent bullish bias in the short term. The RSI indicator entered the overbought zone, surpassing 70 level with strong momentum and the MACD oscillator is strengthening its positive movement above trigger and zero lines. Should the price decisively close [..]
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