|Day's Range||0.619 - 0.63|
|52 Week Range||0.5479 - 0.6790|
The RBA is expected to leave its benchmark interest rate at 0.25%. We’re also looking for policymakers to leave monetary policy measures intact.
The NZD/USD is in no position to change the main trend to down, but there is room for a near-term correction into .6074.
While the economic calendar is on the busier side, Trump’s news conference will be the main event, which is testing risk sentiment early on.
The U.S Dollar is in action later today, with the weekly jobless claims and durable goods orders in focus. There’s also Trump and Beijing to consider.
RBNZ economic stress test analysis suggests banks in the country can continue to lend and prosper through a broad range of adverse scenarios.
Traders are extremely optimistic; bears have to abandon their negative view and buyers are enjoying still relatively discounted stocks. Is it exaggerated?
As market jitters over the U.S and China resurface, the ECB and the EU Commission will be in focus later this morning…
The early tone of the NZD/USD on Wednesday is likely to be determined by trader reaction to Tuesday’s high at .6229.
The markets continue to move northwards. Who needs geopolitical risk, when you have hope? The big question must be whether it can continue…
The Aussie and Kiwi should be underpinned throughout the session on Tuesday as long as investors remain focused on the global economic recovery.
It’s “risk-on” this morning as the markets continue to brush aside U.S – China tensions. Economic data later in the day will garner some attention, however.
Today is Memorial Day in US and Spring Bank Holiday in UK which means the markets should be relatively quiet and we shouldn’t expect any rapid movements.
Economic data puts the EUR in focus, while geopolitics and COVID-19 news and numbers will also influence on the day.
There’s not much anyone can do with the economic data until the virus is contained and the stimulus money starts to circulate through the economy.
Retail sales figures will give the Pound and the Loonie direction, with the ECB minutes also in focus. Trump’s Twitter account could be the key driver, however.
Private sector PMIs and U.S jobless claims put the EUR, the Pound, and the Greenback in the spotlight. Numbers out of Japan were not inspiring…
NAB’s cashless retail sales index, which measures debit card, credit card and other cashless spending on NAB platforms, fell 5.3% in April.
It’s a busy day ahead. The FOMC minutes late in the day will draw plenty of attention as market optimism of an economic rebound lingers.
It’s a busy day ahead on the economic calendar. There is also geopolitics to consider with over the course of the day.
The dollar was down on Tuesday morning in Asia after U.S. drugmaker Moderna (NASDAQ:MRNA) announced “positive” results for its potential COVID-19 vaccine on Monday. The U.S. Dollar Index that tracks the greenback against a basket of other currencies slid 0.01% to 99.672 by 12:14 AM ET (5:14 AM GMT). Meanwhile, U.S. Federal Reserve Chair Jerome Powell is scheduled to speak on the state of U.S. economic recovery from the virus on Tuesday, where he is expected to press for future fiscal support.
The Kiwi is expected to remain under pressure after the RBNZ expanded its asset purchase program and discussed negative interest rates.