The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Greenback rebounds in Asia
On Tuesday, the evergreen buck gained smartly versus the Japanese yen in Asia in rebound trade because Donald Trump told that the America would proceed with its military support to Afghanistan after 16 years.
The currency pair USD/JPY hit 10.9.27 soaring 0.28%. Meanwhile, AUD/USD showed 0.798, staying intact. As for GBP/USD, this pair demonstrated 1.1885, descending 0.13%.
Overnight, the American currency slumped versus a basket of global currencies amid a leap in safe-haven demand, reacting to renewed geopolitical tension in the Korean Peninsula, caused by US-South Korea military drills.
The US dollar lost ground versus safe-haven currencies like the Japanese yen as well as the Swiss franc after on Monday America and South Korea started computer-simulated military drills.
The Chicago Fed Activity Index, gauging economic activity as well as inflation projections, missed hopes moderately, dipping 0.01% to 0.15 from last month.
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?
Here you’ll find fresh news that drive the market today.