The New Zealand dollar was recovering today after the previous sharp sell-off with the help of the market sentiment, which was somewhat improving as was demonstrated by gains of Asian stocks. The rebound was limited, though, and was nowhere near significant enough to erase the Wednesday’s huge losses. Domestic macroeconomic data was not helpful to the currency. The Statistics New Zealand reported that the seasonally adjusted number of building consents increased by 1.9% … “NZ Dollar Recovers Despite Underwhelming Housing Data”
Author: admin_mm
EUR/USD set to move on weaker Core CPI
Euro-zone inflation numbers for March will likely be subdued. German and Spanish figures point to the downside. They may add pressure on the common currency, which is already struggling. The euro-zone publishes its preliminary estimates for inflation numbers for March 2019 on Monday, April 1st, at 9:00. Back in February, the headline Consumer Price Index … “EUR/USD set to move on weaker Core CPI”
US Dollar Mixed on Q4 GDP Revision, Weekly Jobless Claims
The US dollar is mixed against a basket of currencies towards the end of the trading week. The greenback is making sense of an influx of economic data that paints an interesting portrait of the country: a slowing economy, but a solid labor market. On Thursday, the Bureau of Economic Analysis (BEA) revised its fourth-quarter gross domestic product (GDP) figures. The US government found that the national economy advanced at a slower pace in the October-to-December period, from 2.6% … “US Dollar Mixed on Q4 GDP Revision, Weekly Jobless Claims”
Euro Falls Almost to 3-Week Lows on Weak German Inflation Data
The euro today fell for the third straight session against the US dollar driven by the risk-off investor sentiment and weak confidence prints released by the European Commission. The EUR/USD currency pair’s fall was further accelerated by the weak German inflation data and the resurgent US dollar, which rose driven by the flight to safety … “Euro Falls Almost to 3-Week Lows on Weak German Inflation Data”
NZ Dollar Stable Despite Deteriorating Consumer Sentiment
The New Zealand business confidence deteriorated this month, and the outlook was rather pessimistic. Yet surprisingly, the New Zealand dollar held its ground versus most-traded rivals, even gaining on European currencies like the euro and the Swiss franc. The ANZ Business confidence fell to -38.0 in March from -30.9 in April. The activity outlook dropped to 6.3 to 10.5. The report commented on the state of New Zealand’s economy: The New Zealand economy is delicately … “NZ Dollar Stable Despite Deteriorating Consumer Sentiment”
AUD/NZD Is Sitting in a Very Interesting Spot
The decline of the New Zealand dollar versus the Australian dollar dragged the currency pair at the resistance of an established descending trend. Long-term perspective After the New Zealand dollar depreciated, following the RBNZ dovish tone, the price got under the important resistance zone made up by the 1.04528 level and the trend-line of the descending trend which started around the 1.10 level, on October 10, 2018. Along its way from 1.10, the price consolidated five intermediary … “AUD/NZD Is Sitting in a Very Interesting Spot”
Pound Rallies Amid Rising Support for Mayâs Brexit Deal
The British pound today rallied higher against the US dollar in the European session amid growing support of Theresa May‘s Brexit deal among UK lawmakers. The GBP/USD currency pair today headed lower in the American session amid growing geopolitical fears, which caused the US dollar to rally as investors sought safety. The GBP/USD currency pair … “Pound Rallies Amid Rising Support for Mayâs Brexit Deal”
Japanese Yen Rallies Amid Light Data Calendar
The Japanese yen is trading higher against its most-traded currency rivals on Wednesday. With very little data coming out, investors are looking for other national trends to see how to trade the yen in the short-term. The economy could potentially face additional pressure on pledges to raise the sales tax, which also comes as a survey of executives finds that they anticipate a downturn by the fall. Analysts are not anticipating data midweek, … “Japanese Yen Rallies Amid Light Data Calendar”
Aussie Follows Kiwi in Decline
The Australian dollar followed its New Zealand counterpart in decline today. Market analysts speculated that the reason for that was the monetary policy statement of New Zealand’s central bank. The Reserve Bank of New Zealand shocked markets today, suggesting that the next move in interest rates will likely be a cut. Analysts argued that it increased pressure on the Reserve Bank of Australia to follow suit. Speculators were already pricing … “Aussie Follows Kiwi in Decline”
RBNZ Turns Dovish, New Zealand Dollar Tanks
The Reserve Bank of New Zealand rocked markets today, demonstrating a clearly dovish bias. Unsurprisingly, the New Zealand dollar did not take it well, posting a huge decline against all other most-traded currencies. The RBNZ left its main interest rate at 1.75%, as was widely expected. What was not expected by many market participants was a clearly dovish stance of the central bank. Just recently, the RBNZ turned … “RBNZ Turns Dovish, New Zealand Dollar Tanks”