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.
Evergreen buck pares back profits after inflation data
On Wednesday, the major US currency managed to pare back earlier profits. It’s because inflation data underpinned the Fed’s policy of lifting interest rates at a gradual tempo.
Indicating the greenback’s purchasing power versus its several key counterparts the USD index went down by approximately 0.27% coming up with 96.88.
As a matter of fact, Wednesday’s data showed that the annual core consumer price index or CPI for short managed to surge by up to 2.1%. The given outcome turned out to be less than anticipated.
By the way, core prices are considered by the Federal Reserve to be a better gauge of longer-term inflationary pressure due to the fact that they exclude the volatile energy and food categories. The US major financial institution normally tries to meet a 2% core inflation objective or less.
The evergreen buck stood still versus the Japanese currency. The currency pair USD/JPY was seen at 113.81. In addition to this, the Canadian dollar headed north. The currency pair USD/CAD dived by 0.03% coming up with a reading of 1.3235.
Apart from that, the UK currency tacked on following news that the European bloc and the United Kingdom have finally reached a draft pact on Brexit. Moreover, a statement from UK Prime Minister Theresa May is scheduled on 12:00 PM ET.
The currency pair GBP/USD surged by up to 0.25% being worth 1.3011
As for the common currency, it went up, although it was held back by a clash between Rome and Brussels over Italy’s budget. The matter is that the European Commision disapproved Italy’s 2019 budget due to the fact that it breaks EU fiscal regulations. However, Italy has stuck to its objective in a re-submitted draft budget.
The currency pair EUR/USD jumped by 0.19% trading at 1.1310.
Similar
United States Purchasing Managers’ Index Will Move The Dollar
United States Institute for Supply Management (ISM) will release services Purchasing Managers' Index (PMI) on October 5, 17:00 GMT+3.
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…
Latest news
What will move the market on October 18-22?
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Gold Skyrocketed, USD Dropped. What Drives The Market Today?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
High-Impactful Event for Forex: US Retail Sales
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
Deposit with your local payment systems
