Greenback soars in Asia

Greenback soars in Asia

On Thursday, the evergreen buck rallied versus the Japanese yen in Asia. The common currency went down as the Reserve Bank of New Zealand didn’t change its 1.75% rate.

The currency pair USD/JPY hit 112.91, ascending 0.06%. AUD/USD reached 0.7826, sliding 0.29%. As for EUR/USD, this currency pair showed 1.1740, slumping 0.06%.

The RBNZ left its rate intact and also called for a weaker currency.  Apparently, a lower New Zealand dollar would lift tradable inflation and ensure more balanced surge, as some financial experts state.  

The decision emerged several days after an inconclusive national election, which left the country unaware of which parties would make its next government. 

The currency pair NZD/USD showed an outcome of $0.7199, being nearly intact.

The US dollar index, gauging the US currency’s value against a basket of six key currencies, gained 0.08% showing 93.34.

The greenback’s firm gain put pressure on both the euro and pound because both currencies gave up some of their recent revenues versus the US currency.


The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

The US NFP Update: What to Wait for?
The US NFP Update: What to Wait for?

The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.

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Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

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