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 rebounds as Kaplan backs Fed pause
On Thursday, the evergreen buck pared earlier profits due to the fact that Dallas Fed President Robert Kaplan backed the major bank’s pause on rate lifts.
Kaplan, generally known as a more hawkish member of the US major financial institution, told that stimulus from tax cuts are receding and the impact of interest rates has yet to affect the American economy.
Estimating the evergreen buck’s purchasing potential versus a number of key currencies the USD index was worth 96.192 in contrast with a previous maximum of 96.433.
The previous week, the major US bank announced an end to its drive to tighten monetary policy because of fears over decelerating economic growth domestically as well as abroad.
The evergreen buck headed south versus Japan’s currency. As a matter of fact, the currency pair USD/JPY inched down by about 0.25% concluding the trading session at 109.67.
In addition to this, the UK currency reversed right after Bank of England Governor Mark Carney told that the financial markets shouldn’t prepare for a no-rate-lift scenario. On Thursday, Britain’s key financial institution left interest rates on hold because tensions over Britain’s plan to depart from the EEuropean bloc has put pressure on businesses as well as and consumer spending. The currency pair GBP/USD tacked on by 0.3% trading at 1.2970.
The common currency dived right after the European Commision slashed economic surge estimates for 2019. The currency pair EUR/USD dipped by 0.03% being worth 1.1356 having slumped to an earlier minimum of 1.1327.
Meanwhile, in Australia, the currency pair AUD/USD regained 0.07% hitting 0.7107. The currency pair NZD/USD went down by 0.15% concluding the trading session at 0.6761. As for the Canadian dollar, it slumped. USD/CAD tacked on by up to 0.4% trading at 1.3262.
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…
What will happen? ECB will report its Monetary Policy statement at 14:45 MT (GMT+3) on Thursday, October 28…
What will happen? BOC will report its Monetary Policy statement at 17:00 MT (GMT+3) on Wednesday, October 27…
What will happen? Australian Bureau of Statistics will announce Core PCE Price Index at 03:30 MT (GMT+3) on Wednesday, October 27…