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.
Evergreen buck ascends, as Turkish lira dives
On Monday, the evergreen buck managed to rally versus its rivals, although profits were tamed because the common currency went down from a 13-month minimum notwithstanding another rout in Turkey’s currency.
Gauging the US currency’s purchasing power versus a bunch of its major counterparts the USD index climbed up by 0.08% trading at 96.27.
Eventually, bargain hunters assisted the common currency in clawing back some of its dips versus the evergreen buck after an earlier rout when the euro reached a 13-month minimum because concerns mount about the economic stability of Turkey.
On Monday, Turkey's main financial institution tried to soothe investor worries, but its effort wasn’t met with much enthusiasm. The major bank told that it would offer as much liquidity as required to the country's financial institutions as it had the lira cut. It also softened foreign currency reserve requirements for the country’s banks.
The fresh wave of selling observed in the Turkish lira showed up against the backdrop of soaring investor worries that emerging-markets reliant on foreign debt, including Indonesia and South Africa might struggle to finance surge in the wake of soaring American interest rates that tends to back the evergreen buck.
The Mexican Peso and South African rand edged down versus the US currency.
More than 90% of market participants expect the Fed to have rates lifted in September. Another rate is anticipated to show up in December.
The currency pair USD/JPY headed south by 0.16% reaching 110.63, USD/CHF dipped by 0.12% hitting 0.9940.
The currency pair GBP/USD sank by 0.16% showing $1.2750 on investor worries that Britain's departure from the European bloc is going to be fractious. Brexit negotiations are expected to continue this week.
The currency pair USD/CAD acquired 0.06% trading at C$1.3150 because diving crude prices kept putting pressure on the crude-price-sensitive Canadian dollar.
United States Institute for Supply Management (ISM) will release services Purchasing Managers' Index (PMI) on October 5, 17:00 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…
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).