The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
USD/TRY gets volatile after the rate cut
Today the central bank of Turkey cut its interest rate from 24% to 19.75% (vs. 21.5% expected). After the larger-than-expected rate cut by the Central bank of Turkey, USD/TRY initially tested the resistance at 5.7540 but fell sharply to the support at 5.6411. At the moment, the further direction of the pair is quite uncertain. If bears are strong, they will retest and break the support at 5.6411. The next support will lie at 5.6283. Bulls need to push USD/TRY to the 5.7048 level to confirm their strength. After that, the retest of the 5.7219, 5.74 and 5.7540 levels seems possible.
The Bank of England cut its interest rate. What does that mean?
Let’s consider the best and the worst-performing assets as Monday’s session kicks in.
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.