The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Greenback sticks to 3-year minimums vs. other key currencies
On Thursday, the American dollar was sticking to three-year minimums versus other main currencies, reacting to remarks from US Treasury Secretary Steven Mnuchin amid worries as for Trump's message at the World Economic Forum, Davos.
The evergreen buck slumped after on Tuesday White House officials told that Trump was eager to make the most of his speech in Davos just to underline his initiative "America First."
The given initiative comes with a potential withdrawal from the North American free-trade pact.
Estimating the US currency’s value versus a trade basket of six key currencies, the US dollar index headed south 0.18% to a new three-year minimum of 88.85.
The currency pair EUR/USD ascended 0.15% hitting a new three-year maximum of 1.2427 because market participants were closely watching the result of the European Central Bank's policy gathering later in the day for further clues as for future shifts in the bank’s monetary policy.
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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