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 reaches fresh 4-month peak
On Monday, the evergreen buck reached a four-month maximum versus the Chinese yuan, although it was lower against the Japanese yen as well as Swiss franc due to the fact that the escalating trade conflict between China and America backed bids for ‘safe-haven’ assets.
The evergreen buck managed to hit 109.73 yen, sliding about 0.2% from late Friday, and having slumped to 109.60 overnight. It turned out to be a bit higher than the three-month minimum that the currency pair reached on Friday as a fresh round of American levies on Chinese imports came into effect.
The greenback reached a fresh four-month maximum versus the Chinese yuan of 6.8654 overnight.
Over the weekend, American leader initiated a process to have tariffs on all remaining untouched Chinese goods levied 25%, although the two leading economies kept negotiating, avoiding an all-out breakdown of the negotiations.
As some financial analysts pointed out, it was quite logical that any deal to have the dispute clarified is going to be postponed and global surge in the second quarter could be affected.
It represents a considerable change compared to market hopes for a deal signed this week. In fact, trade uncertainty doesn’t appear to be the market’s friend, and this makes investors take a more cautious stance in the nearer future, notwithstanding the better economic data of late.
Gauging the evergreen buck’s purchasing power versus its six key rivals the USD index hit, standing still from Friday due to the fact weakness against safe havens was compensated by a tumble versus risk proxies such as the Australian and Canadian dollars.
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…
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
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?