New Zealand Cash Rate will define the fate of NZD!
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.
Common currency rallies, getting closer to last week’s peak
On Monday, the common currency managed to ascend, getting closer to the previous week's maximum for three weeks before the ECB gathering to be held this week. The evergreen buck rallied versus the major Japanese currency, as traders neglected geopolitical risks for a while.
The currency pair EUR/USD pair soared by 0.34% coming up with 1.1810. For the last week, this currency pair tacked on by 0.92%.
Demand for the euro is still high ahead of the ECB gathering on Thursday. Financial analysts foresee that as a result of this gathering, the European Central Bank is going to signal about the exact timing of completion of its financial incentive initiative.
The evergreen buck managed to win back the previous dive versus the Japanese yen. The currency pair USD JPY soared by 0.41% being worth 109.99 after the minimum of 109.31 observed during the night trading.
At the weekend, market participants generally neglected geopolitical risks during the G-7 summit that was held in Canada.
US leader Donald Trump didn’t want to have a communiqué signed following the G7 summit. What’s more - he had a conflict with Canadian Prime Minister Justin Trudeau, accusing him of spreading fake statements. Moreover, he didn’t like that the rest of the world treats the United States as a big piggy bank.
Market participants are hoping for a big breakthrough before the historic negotiations between US leader and North Korean dictator Kim Jong-no in Singapore burst out.
The US dollar index, employed to estimate the purchasing power of the American currency versus the group of six key currencies, dipped by 0.14% trading at 93.42.
Additionally, the UK pound rallied against the evergreen buck. The currency pair GBP/USD added 0.15% being worth 1.3428.
The pair USD/CAD soared by 0.32% hitting 1.2966.
Similar
What Will Move the Market on September 27 – October 1?
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
Turkey has Decreased Interest Rates, But is it a Buy?
Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.
Latest news
How Will USD React to NonFarm Payrolls?
What will happen? NonFarm Payrolls data will be announced at 15:30 MT (GMT+2) on Friday, December 3…
How will OPEC-JMMC Meetings Affect Oil Prices?
OPEC-JMMC meetings will be hosted on Thursday, December 2 during the whole day.
How Will USD React to ISM Manufacturing PMI?
ISM Manufacturing PMI will be announced at 17:00 MT (GMT+2) on Wednesday, December 1.
