Forex News, Page 5

The main takeaway from the report is that quarterly inflation fell to an annual rate of just 1.42%. This put it well below the bottom of the RBA’s 2-3% medium-term target. With underlying inflation decelerating away from the RBA’s mandated level, the odds of a central bank rate cut over

The Kiwi Dollar and Aussie Dollar take another hit early. The Bank of Canada and corporate earnings could give the Greenback more upside on the day.

Along with the greenback upliftment, the primary rival (EUR/USD) which always benefits from a dollar plunge, dropped significantly. Crude WTI Futures traded at a new high near $66.60 per barrel elevating the commodity-linked CAD. USD/JPY lost 30 pips in a matter of a few minutes.

It’s a mixed start to the day for the majors. While the Pound managed to hold steady, things could change later today as MPs return from recess.

The Market remained silent in the middle of insufficient economic data on Easter Monday. The Cable was down, still sustained near 1.1300 levels. Oil price upsurged on the news suggesting Iranian sanction waiver rejection, making the loonie pair tumble further.

Given the new CPI data, New Zealand economists are now predicting the Reserve Bank will cut its official cash rate from its present record low at 1.75 percent to 1.5 percent in May. Although traders are pricing in an RBA rate cut for later in the year, the employment report

USD/JPY sustained near the 112 levels, staying apathetic over BoJ’s bond purchase cuts. The EUR/USD showed less reaction to the greenback weakness today. USD/RUB marks day’s high near 64.05 levels.

With the major financial markets closed for the day, volumes will be on the lighter side. U.S housing data will be the only numbers for the Dollar to respond to.

The AUD/USD enjoyed a 0.39 percent boost in the Asian session following strong employment data. The Cable underwent extended slump even in the absence of Brexit headlines.

It’s a busy economic calendar. Weak numbers all round and expect the Dollar to claw its way back…

The loonie touched the month low near 1.3272 levels amid influential Canadian CPI figures. GBP/USD doused in plunge as events came out below-expectation. This time, the EIA reported a negative US Crude Inventory data.

China data was skewed to the positive. Whilst failing to spur the equity markets, the EUR and the Aussie Dollar benefited.

Traders are now pricing in at least two rate cuts by the RBNZ this year. Capital Economics and Westpac are forecasting the central bank will cut official interest rates by 25 basis points when it next meets in early May.

The EUR/USD showcased a seesawed performance during the day. AUD/USD plunged in the Asian session after the announcement of RBA’s dovish monetary comments. The loonie pair fell off to 1.3350 levels over weaker reports and crude upliftment.

Consumer sentiment figures out of Germany and Eurozone and industrial production figures out of the U.S will be in focus later today.

The minutes showed that policymakers saw a marked slowdown in the Australian GDP that offset the sustained labor market growth. The minutes also revealed that policymakers expect inflation to remain muted for some time. Additionally, the minutes disclosed the RBA discussed interest-rate cuts at its April board meeting and concluded

The US-Sino trade concerns to end soon sets the market mood. Greenback rebounded losses on the backdrop of surprising NY April Empire State Manufacturing Index. GBP/USD steadies amid Brexit headlines.

It’s risk-on in the early hours, support the EUR while pinning back demand for the Greenback. Earnings results will be key later.

The greenback fell in the Asian session but was underway recovery in the latter half. Crude upshot invited the Ruble bulls. EUR/USD amassed weekly gains above 1.1300 levels.

China trade figures ease some of the market jitters over the economy. The focus will now shift to earnings to support risk appetite throughout the day.