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 keeps to 4-month maximum
On Tuesday, the evergreen buck kept to a 4-month maximum versus other major currencies. The Australian dollar found itself under pressure from weaker than anticipated retail sales. The Australian currency demonstrated a weak reaction to China's trading indicators, which were mostly upbeat.
The US dollar index, normally employed to gauge the strength of the American currency versus a pack of six major rivals, tacked on 0.05% being worth 92.66. At night, the greenback managed to strengthen, hitting this year’s peak of 92.82.
Key events this week for the evergreen buck include a decision by the American President Trump on whether to withdraw from the deal with Iran or not. Evidently, the US withdrawal will generate unclear geopolitical consequences in the Middle East and it might apply pressure on the evergreen buck. In addition to this, the United States should also publish its data on producer prices as well as consumer inflation on respectively Wednesday and Thursday.
The currency pair USD/JPY headed south 0.06% coming up with an outcome of 109.02. This Asian country published its data on March household spending that turned out to be worse than anticipated, and accounted for 0.7% versus the expected 1.2%.
The People's Bank of China set a benchmark rate for the Chinese Yuan against the evergreen buck at 6.3674 against 6.3584 yesterday. The currency pair USD/CNY sank by 0.02% hitting 6.336656.
The April export of China, traditionally expressed in the Yuan, tacked on by 3.7% versus the previous year, and in contrast with a dive of 9.8% in March.
Imports in RMB headed north by 11.6% the previous month versus a 5.9% ascend in March, which provoked a surplus in the trade balance of about $28.72 billion.
The currency pair AUD/USD inched down up to 0.29% reaching 0.7493.
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).