The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Yen declines after NKorea missile test
On Wednesday, the Japanese yen traded modernly weaker in Asia, as a medium-range ballistic missile test by North Korea ahead of an upcoming summit between American President Donald Trump as well as Chinese President Xi Jinping rattled nerves. Additionally, financial markets looked ahead to American jobs data to set the overall tone.
The currency pair USD/JPY hit 110.78, adding 0.03%, AUD/USD reached 0.7571, inching up 0.08%.
The US dollar index, measuring the US dollar’s strength against a basket of six crucial rivals, slid 0.04%, getting to 100.38.
Overnight, the greenback traded higher against a basket of key currencies, following the publication of positive American trade data, while traders shifted focus to the Trump-Xi gathering.
In America, on Tuesday, the Commerce Department told that the trade deficit tumbled by 9.6% to $43.6 billion. As for January's trade deficit, it was revised from $48.5 billion down to $48.2 billion.
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.