NZD/USD: testing tactical support
The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Aussie and Kiwi are at 4-month peaks vs. weaker US dollar
On Monday, the Australian and New Zealand dollars were keeping to four-month maximums versus their American rival because the broadly stronger common currency kept weighing heavily on the US currency notwithstanding Friday's mostly positive American data.
The currency pair AUD/USD tacked on 0.34% hitting 0.7944, which is the highest value since September.
The common currency strengthened broadly because Thursday’s minutes of the European Central Bank’s December gathering told that officials could move to a gradual shift in policy guidance from the first quarter 2018.
Any changes to the ECB’s guidance would probably be considered by market participants as a sign that policymakers are ready to start winding down their bond purchasing stimulus program.
The greenback neglected Friday’s data showing that underlying American consumer prices reported their largest leap for 11 months in December, thus contributing to hopes that inflation will step up in 2018.
The currency pair NZD/USD gained 0.28% to 0.7268.
Similar
The US inflation: getting worse?
The US CPI and core CPI are due at 15:30 MT time on May 12.
May 2020 forex season trading
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
Latest news
Market news on May 26: S&P 500 passed 3000
Stocks, oil and GBP gain on risk-on sentiment
What moves the market on May 25?
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
What moves the market on May 22?
Here you’ll find fresh news that drive the market today.
Deposit with your local payment systems
