The Bank of Canada also holds a policy meeting today. A 0.25% increase to 2.50% is expected, although last week’s softer underlying inflation leaves scope for another surprise. After this morning’s RBNZ decision, traders should be especially careful about treating a strongly…
The New Zealand Dollar (NZD) trades sharply lower against its major currency peers on Wednesday. Against the US Dollar (USD), the kiwi dollar is down 1.28% to near 0.5600. The table below shows the percentage change of New Zealand Dollar (NZD) against…
Danske Bank’s Danske Research Team notes that EUR/USD traded sharply lower, nearing year-to-date lows, as broad-based Euro weakness dominated G10 FX. The bank expects the Fed to keep rates unchanged but to reiterate its commitment to returning inflation to target,…
The RBNZ left its Official Cash Rate (OCR) unchanged at 2.75%, earlier on Wednesday, against market expectations of a quarter-point rate hike. The Kiwi Dollar plummeted across the board following the decision, to regain some ground shortly afterwards, when Governor Anna…
The Japanese Yen (JPY) continues to underperform against the US Dollar (USD) as the latter strengthens amid caution ahead of the Federal Reserve’s (Fed) monetary policy at 18:00 GMT. As of writing, the US Dollar Index (DXY), which gauges the Greenback’s…
"We have greater sympathy with this view as current expectations for BoE tightening are excessive, and we expect one more rate hike in this cycle." "Until it’s clear where rate differentials between the BoE, Fed and ECB will settle, cross-border…
Commerzbank’s Norman Liebke notes that the Reserve Bank of New Zealand (RBNZ) surprised markets by holding at 2.75%, even as it signalled further hikes will likely be needed. He sees limited medium-term upside for New Zealand Dollar (NZD), arguing market pricing…
The Pound US Dollar (GBP/USD) exchange rate faltered on Tuesday, as GBP investors erred on the side of caution ahead of the UK's Autumn Budget. At the time of writing, GBP/USD was trading at around $1.3331. A slight decline…
UOB’s Quek Ser Leang and Lee Sue Ann note EUR/USD’s downside bias has intensified after the pair broke below 1.1135 faster than expected, reaching 1.1121. UOBâs Quek Ser Leang and Lee Sue Ann note EUR/USDâs downside bias has…
GBP/USD continues its losing streak for the fourth consecutive day, trading around 1.3290 during Asian hours on Wednesday. Traders are waiting for UK Finance Minister John Healey to present his first budget later in the day. UK Finance Minister Healey…
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