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 rallies as investors wait for news on China trade negotiations
On Monday, in Asia, the evergreen buck soared versus most other currencies due to the fact that market participants are waiting for further news on China trade negotiations.
Tracking the purchasing potential of the US currency against a number of its main peers the USD index jumped by up to 0.1%.
The previous week the USD index managed to rally by 1.2% on fears about a weakening global economy as well as soaring uncertainties surrounding the US-China trade conflict. What’s more, it appeared to be the currency’s most impressive weekly ascend since May last year.
Progress in China-US trade negotiations will probably become one of the key drivers of the financial markets this week because high-level statesmen gather in Beijing for another round of talks bursting out on Monday after the last meeting between the two sides resulted in no deal.
The two leading countries are struggling to come to a compromise before the 90-day truce between the trading partners expires on March 1. American leader has threatened to ramp up levies on Chinese goods if the deadline ends up without a deal.
This week, market participants are expected to receive an update on American inflation.
Consumer prices report is anticipated to show up on Wednesday. As for producer prices as well as December retail sales figures, they will be uncovered on Thursday.
Besides this, the currency pair USD/CNY rallied by 0.5%.
The Shanghai Composite along with the Shenzhen Component headed north having returned from a week-long Lunar New Year holiday.
On Thursday, China is expected to reveal its latest trade figures. The day after China will uncover its data on inflation.
The currency pairs AUD/USD and NZD/USD tacked on by 0.2%.
This week, the Reserve Bank of New Zealand will uncover its benchmark interest rate.
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).