Morning Market Updates – Dollar Looks Positive

Asian Markets

The Reserve Bank of New Zealand (RBNZ) kept the cash rates unchanged at 1.75% in its monetary policy meeting. The policy revealed that the core inflation and long-term bond yields remained considerably low. However, the economic growth remained positive overall.

Foreign investment in Japanese stocks dropped down from a previous value of ¥-143.1B to ¥- 331.6B. Japan Foreign bond investment came in at ¥1090.1B versus a previous value of ¥526.6B.

Other Markets

Moving on for the day, we have the ECB’s Economic Bulletin and Consumer Confidence with the forecasts at -3 from a -3.3. A mixed reaction was seen for the Canadian dollar with the Retail Sales ex Autos boosting their economic growth with 0.7% from a previous value of negative 0.2%. However a dip in the Retail Sales from 0.7% to 0.2% can even the odds and see a low CAD in the day.

Greenback looks better with the Continuing Jobless Claims forecasts at 1.928M when compared to the previous release at 1.935M. However, the Initial Jobless Claims suggest that they may see some down fall against a previous value of 237K. Housing Price Index seems to be line with the previous release of 0.6. Late in the day, we have the FOMC Member Powell’s speech and this may provide some input on the direction of the greenback for today.

 
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