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.
Greenback heads south versus yen, after Trump’s threat to further increase duties on Chinese imports
On Friday, the evergreen buck headed south versus the Japanese yen in early trade today right after the US President Donald Trump told that he instructed American trade officials to consider extra duties on Chinese imports of $ 100 billion.
Donald Trump told that he instructed the US representative in trade negotiations to consider the possibility of imposing extra duties on imported products from China, the overall value of which accounts for $100 billion, and come up with a list of such products.
The president added that he instructed to consider extra duties on Chinese imports in the light of China's quite unfair retaliation. Nevertheless, he stressed that he’s always ready to negotiate trade relations with this Asian country.
Besides this he noted that China is used to unjustly getting intellectual property of the United States of America.
Now, the duties imposed by the US president for Chinese imports of $ 50 billion can be ramped up threefold to $ 150 billion.
It gave impetus to the Japanese yen as a currency-refuge, which traditionally attracts demand in times of economic uncertainty and vice versa.
As a matter of fact, the currency pair USD/JPY inched down from Y107.50 to Y107.00 from the beginning of Asian trading, although then the dive stopped.
So far, market participants are currently waiting for China's reaction as well as detailed comments by Trump.
In addition to the China-US trade issue, currency traders also paid much attention to data on jobs in the United States that is going to be uncovered on Friday. As average forecasts point out, in March the overall number of folks employed in the non-agricultural sector of the American economy edged up by 198 thousand after a jump of 313 thousand in February.
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?