The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Greenback keeps to 96.00
On Tuesday, the American currency kept the positive tone, while a test/surpass of the crucial 96.00 level is still elusive.
The US index keeps soaring for the third straight session. The index actually seeks to regain the key 96.00 level and nearly fully retracing previous Thursday’s huge pullback to the mid-95.00s.
The US dollar’s upside move stays underpinned by the sturdy rebound of American yields, where the 10-year benchmark keeps to the key 2.40% value, the level last reached in early May.
Also giving support to the greenback, San Francisco Fed J.Williams told that a third rate lift in 2017 seems reasonable enough, while he expects the major US bank to start normalizing its balance at some point later this year.
Meanwhile, in the US data space, the NFIB index is expected to be published soon, followed by speeches by FOMC’s L.Brainard and JOLTs Job Openings as well as Minneapolis Fed N.Kashkari. The given index is earning up to 0.08%, hitting 95.89.
The US CPI and core CPI are due at 15:30 MT time on May 12.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
Stocks, oil and GBP gain on risk-on sentiment
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
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