USD/CHF and EUR/CHF rose to tactical highs. What's next?
Aussie dives, Kiwi surges vs. greenback
On Thursday, the Australian dollar declined against the greenback, while the New Zealand dollar grew against its US counterpart, as financial markets were jittery after Wednesday’s mixed American data and ahead of a meeting between American President Donald Trump and Chinese leader Xi Jinping.
The currency pair AUD/USD lost 0.34%, being worth 0.7546, off a three-and-a-half week minimum of 0.7532.
The major US currency came under pressure after on Wednesday the Institute for Supply Management told that its index of non-manufacturing activity went down to 55.2 in March from February’s 57.6. It turned to be the lowest value since October 2016.
Additionally, payroll processor ADP informed that in March the American private sector generated up to 263,000 new jobs, which is far more than the 187,000, expected by economists.
The currency pair NZD/USD grew 0.20%, trading at 0.6979.
Traders were also cautious ahead of what was supposed to be a tense long-awaited summit meeting American President Donald Trump and Chinese leader Xi Jinping.
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
Australia will publish the employment change and unemployment rate on February 18, at 02:30 MT time.
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time.