
Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.
On Tuesday, the Australian dollar was nearly intact after the Reserve Bank of Australia made up its mind to leave its overnight rate on hold at 1.5%. Additionally, the Chinese Yuan rallied because an official of the People’s Bank of China told that the Yuan’s internationalization is market-driven.
As a matter of fact, the AUD/USD stood still showing 0.7211. As for the currency pair NZD/USD, it managed to add 0.1% being worth 0.6652. Australia’s key bank told that it actually expected a gradual pickup in inflation. Moreover, the RBA is assured that the country’s GDP will ascend at about 3.5% over the next few years.
Besides this, the currency pair USD/CNY slid by 0.1% coming up with a reading of 6.9239 because during the China International Import Expo Huo Yingli, director general of the Monetary Policy Department II of the People's Bank of China told that the national currency’s internationalization happens to be market-driven.
He told that the Yuan’s internationalization turns out to be a natural thing powered by the market. He added that its basic motivation is built around real demand from investment and trade.
The Yuan reference rate was set at 6.9075 versus yesterday’s reading of 6.8976 by the People's Bank of China.
Estimating the greenback’s actual purchasing power against its key rivals the USD index surged by up to 0.1% ending up with 96.19 because traders waited for the American midterm elections due later in the day.
As some analysts pointed out, financial markets are actively pricing in the likelihood of the Republicans’ win - even in the House. It’s generally believed that a Republican victory in both chambers will most probably back the evergreen buck.
In addition to this, the currency pair USD/JPY headed north by 0.1% reaching 113.34.
Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.
Reserve Bank of New Zealand (RBNZ) will reveal Official Cash Rate and make a statement about monetary policy on October 6, 04:00 GMT+3.
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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