The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Australian dollar drops on dismal Q2 CPI figures
On Wednesday, the Australian dollar dived in Asia as consumer prices for the second quarter ruined hopes, with the Federal Reserve expected to unveil its views on rates soon to set the overall tone.
As Australia posted, CPI figures rallied 0.2%, which is below with a 0.5% revenue observed for the second quarter, with a 1.9% annual pace versus the expected 2.2%.
The currency pair AUD/USD sank 0.38% to $79/06, USD/JPY showed 111.87, decreasing 0.02%.
Estimating the American currency’s value versus a basket of six major rivals, the U.S. dollar index stood still at 93.92.
Overnight, the greenback didn’t change versus a basket of crucial currencies. It’s because the Fed’s two-day rate policy gathering overshadowed economic reports demonstrating an improvement in consumer optimism regarding the strength of the American economy.
In New Zealand, June’s trade balance extended to a deficit of up to NZ$3.66 billion, versus NZ$3.7 billion observed on year.
The currency pair NZD/USD was worth 0.7421, jumping 0.05%.
The US CPI and core CPI are due at 15:30 MT time on May 12.
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.
Stocks, oil and GBP gain on risk-on sentiment
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
Here you’ll find fresh news that drive the market today.