NZD/USD: testing tactical support
The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Yen soars moderately after better-than-expected wages data
On Friday, the Japanese yen inched up modestly in Asia after better-than-expected average cash earnings with a poor private jobs report putting pressure on market sentiment.
The currency pair USD/JPY demonstrated 113.21, sliding 0.01% after Japanese average cash earnings grew better than expected, gaining 0.7%, unlike a revenue of 0.4% observed.
The currency pair AUD/USD hit 0.7581, descending 0.07%.
Estimating the greenback’s value versus six crucial currencies, the US dollar index went up 0.02%, trading at 95.60.
Overnight, the greenback tumbled to session minimums versus six key currencies after several labor market reports undershot hopes, hinting at a cooling labor market.
On Thursday, investor jitters regarding the strength of the American economy came to the fore, reacting the publication of weaker-than-expected initial jobless claims as well as private sector job creation data, dropping a hint at a probable slowdown in labor market activity.
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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.
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