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On Thursday, the American currency dived a bit, although staying close to multi-month maximums versus the common currency. Yesterday the evergreen buck was underpinned by favorable data on the US labor market, as well as the results of the gathering of the US Federal Reserve.
At the end of the two-day meeting, the US Federal Reserve left interest rates intact. It is still anticipated that the interest rates will be lifted at the next meeting. The Fed management noted the recent strengthening of inflation, which had been forecast for many months, but it didn’t signal the plans to speed up the tempo of rate lifts.
The Australian dollar managed to grow right after the publication of upbeat data on Australia's trade balance.
According to the Australian Bureau of Statistics, the trade surplus tacked on to about A$1.53 billion, seasonally updated, which is quite above hopes for A$650 million. It turned out to be the greatest surplus since May the previous year. By the way, in February, the initial balance of trade in A$825 million was updated upward to A$1.35 billion.
Exports leapt by 1% to a record A$34.84 billion seasonally updated, due to steady improvements in all major categories. At the same time imports surged by 1% to $33.314 billion, which was due to a leap in fuel imports by about $416 million, thus reflecting higher crude prices in recent months.
In addition to this, the Bureau of Statistics of Australia informed that the number of building permits tacked on in March by 2.6% after a 4.2% dive in February (updated from 6.2%). On an annual basis, the number of building permits inched up by 14.5% after a 3.1% sag earlier.
The service activity index issued by the Australian Industrial Group headed south to 55.2 in April versus 56.9 in March.
On Wednesday, the evergreen buck stood still due to the fact financial markets waited for the conclusion of the Fed’s latest gathering, while the New Zealand dollar rallied versus the evergreen buck on a better-than-anticipated business confidence report…
On Tuesday, the evergreen buck went down to the lowest value of the day versus its key rivals ahead of a highly-anticipated two-day Fed gathering starting later on Tuesday…
The Federal Reserve is anticipated to be one of the most aggressive major central banks when it gets to the monetary policy…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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