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 struggles to rally
On Thursday, the evergreen buck gained support after data disclosed that the US economy demonstrated its strongest annual surge for 12 years. However, geopolitical worries held the US currency in check, pushing it back towards the intact mark.
Estimating the purchasing power of the American dollar versus its primary peers the USD index went down by 0.02% ending up with 96.02, rebounding from an intraday peak of 96.20.
On Thursday, the Bureau of Economic Analysis told that GDP posted a seasonally-updated annual rate of 2.6% surge for the last three months of last year, which is in line with hopes for it to dive from a rate of 3.4% in the third quarter.
Although a considerable deceleration from the explosive expansion observed in the third quarter, annual surge for the previous year still settled at a firm outcome of 3.1%, thus marking the first time since 2005 that annual surge has topped 3%.
The data managed to push the evergreen buck up, although enthusiasm started fading because fears over the fact American leader walked away from his summit with North Korean leader Kim Jong-Un with a negative outcome dominated markets.
The safe haven Swiss franc demonstrated strength versus the American dollar on the back of dismal data out of China overnight as well as remarks from US Trade Representative Robert Lighthizer who told it was too early to forecast a result in US-China trade talks. The currency pair USD/CHF declined by 0.39% being worth 0.9974.
The UK pound rebounded from a 7-month maximum versus the greenback, which was reached on Wednesday because British Prime Minister Theresa May was quite confident that a no-deal Brexit could be dodged.
The currency pair GBP/USD went down by 0.26% hitting 1.3272, rebounding from Wednesday’s intraday maximum of 1.3349.
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 25-29?
Last week was full of surprises! Stock indices have shown significant growth…
Will USD Stop Falling Today? Market Wrap
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.
Major Event Alert: Canadian Retail Sales
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
Deposit with your local payment systems
