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 heads north, as bond gains inch up
On Thursday, the evergreen buck managed to rally because bond gains jumped and minutes from the Federal Reserve’s September gathering backed a rate lift in December.
Evaluating the purchasing power of the major American currency against a number of its primary rivals the USD index managed to jump by up to 0.13% coming up with a reading of 95.47.
On Thursday, Treasury gains managed to soar, with America’s 10-Year note approaching a one-week maximum of 3.211% as well as the 2-year note at a 10-year maximum. The ascend in bond gains occurred after hawkish Fed minutes disclosed the major financial institution’s conviction in gradually lifting interest rates in December and later.
The very likelihood that the Federal Reserve would have its rate lifted at its gathering in December was priced in at about 83.4%. That’s what Fed Rate Monitor Tool disclosed.
The evergreen buck managed to gain versus the Japanese yen. As a matter of fact, the currency pair USD/JPY headed south by 0.12% being worth 112.53. Additionally, data overnight revealed that Japanese exports inched down for the first time since 2016, contributing to fears over the influence of the US-China trade conflict on global surge.
In addition to this, the UK currency declined due to the fact British Prime Minister Theresa May had political clashes with her party after the statesman conceded that the United Kingdom might require extending its transition period from Brexit. The currency pair GBP/USD went down by 0.34% coming up with an outcome of 1.3069. The common currency declined too. The currency pair EUR/USD headed south by 0.14% reaching 1.1486.
Besides this, the Australian dollar gained. The currency pair AUD/USD soared by 0.27% being worth 0.7127. The currency pair NZD/USD surged by 0.20% showing 0.6563. USD/CAD added 0.12% trading at 1.3035.
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).