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 steadily approaches a four-month maximum
On Tuesday, the evergreen buck traded steadily around four-month maximums. Market participants were waiting for a political decision by the Federal Reserve as well as key employment data in America, which might further influence the US dollar.
The Fed is going to close its two-day gathering on Wednesday. It’s believed that the US major financial institution will keep the policy intact, and investors will follow the hints of higher rates in June.
Besides this, financial markets also focus on the April report on non-farm employment, which can provide extra indications of strength in the world's number one economy.
The dollar index versus six leading currencies changed a bit, showing 91.805 having soared to 91.986 on Monday, which turns to be the strongest value since January 11.
In April, the American currency leapt 2% after the 10-year revenue of the US Treasury rallied above the psychologically significant 3% threshold to four-year maximums the previous week.
The US currency gained recent support right after the common currency dived to nearly three-month minimums overnight on weak retail sales data in March that exacerbated hopes that the European Central Bank would soon get down to unwinding its huge incentives.
It’s believed that the euro decline in the near future will go on in the face of a deterioration in the likelihood of the ECB's entry into a tightening of monetary policy.
The evergreen buck tacked on to a 2-1 / 2-month maximum against the Japanese yen on Friday. It’s because the yield on 10-year Treasury bonds in America headed north. It lost momentum because the Treasury yield receded from the four-year maximums.
Earlier this year, the correlation between the US revenue and the evergreen buck was broken. It’s due to the fact market participants focused more on trade frictions as well as tight global politics.
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 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).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).