|Day's Range||0.64 - 0.641|
|52 Week Range||0.6207 - 0.6972|
The AUD/USD and NZD/USD started to bounce back after Chinese Vice Premier Liu He told Bloomberg that he was “cautiously optimistic” in reaching a “phase one” deal, but added that he was “confused” about U.S. demands.
Investing.com - The U.S. dollar slipped on Thursday in Asia after the release of the Federal Reserve meeting minutes. Tensions between the U.S. and China rose following reports that U.S. President Donald Trump might sign a bill that supports Hong Kong protesters.
The HK Bill in support of the protestors is on its way to the Oval Office. Trump’s signature may well raise doubts over a phase 1 trade agreement.
The U.S. dollar is slightly higher on Wednesday. In the Asian session, the greenback posted gains against the Australian, New Zealand and Chinese currencies.
Trade tensions, UK politics, the FOMC meeting minutes and inflation figures out of Canada will keep the markets busy throughout the day…
Investing.com - The U.S. dollar was near flat on Wednesday in Asia as traders remained cautious ahead of the release of minutes from the U.S. Federal Reserve's last policy meeting due later in the day.
Earlier in the session, the AUD/USD was pressured after the Reserve Bank of Australia (RBA) minutes showed policymakers acknowledged there was a case to cut the cash rate to a new record low before leaving it unchanged at 0.75 percent at this month’s board meeting.
It has been a quiet start on Tuesday, as the Australian, New Zealand and Chinese currencies were almost unchanged in the Asian session. I expect the lack of movement to continue throughout Tuesday.
Chatter on trade remains the key driver, with negative updates from Beijing weighing on risk appetite early. The RBA added further pressure on the Aussie.
It’s a very quiet start for the Pacific currencies, as investors wait for further news on the U.S.-China trade front. The Australian, New Zealand and Chinese currencies are all trading sideways on Monday.
Based on last week’s price action and the current price at .6400, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the short-term 50% level at .6394.
The Pound makes an early move, supported by the latest opinion polls. The ECB Financial Stability Review and Trade will also influence.
Aussie and Kiwi traders are going to continue to make adjustments to their positions in reaction to the chances of further rate cuts by the RBA and RBNZ, respectively. However, most eyes will be on the progress of the trade talks.
Mixed comments about the status of trade talks between the United States and China encouraged some investors to seek shelter in the safe-haven Japanese Yen. The Australian Dollar closed lower last week after the country’s employment report for the month of October created a surprise disappointment among investors. The New Zealand Dollar finished the week sharply higher after wholesale interest rates spiked after the Reserve Bank left its official cash rate (OCR) unchanged at 1 percent.
The Australian and New Zealand currencies have settled down on Friday after considerable losses a day earlier. The Chinese yuan has posted small gains against the U.S. dollar.
The economic calendar shifts focus to the U.S Dollar. Following Powell’s positive outlook on the economy, retail sales will need to impress…
The Australian dollar has lost ground after disappointing employment numbers. The New Zealand dollar and Chinese yuan are showing limited movement.
The selling pressure on the Aussie and Kiwi is likely to continue on Thursday unless there is a positive development over the trade deal. Even if that is the case, the move is likely to be fueled by short-covering rather than new buying.
Particularly weak economic data weighed on the risk appetite early on, with a busy day of stats likely to test the markets further in the day.
Investing.com - The U.S. dollar inched up on Thursday in Asia following prepared remarks from Federal Reserve Chairman Jerome Powell. The Australian dollar dropped after the release of weak employment reports.
It is the New Zealand dollar’s day to shine. The currency is up over 1.0%, after the RBNZ did not cut rates, as expected. The Australian dollar and Chinese yuan are steady.
The RBNZ said that while inflation remained below the 2 percent target mid-point, economic developments since August did not warrant a change to “the already stimulatory monetary setting at this time”.
The RBNZ held rates steady, leading to a surge in the Kiwi, while the Greenback was under early pressure following Trump’s Tuesday speech…