The Reserve Bank of New Zealand Hiked Rates to the Highest Level in 6 Years, Signaled More Moves Ahead
NZD/USD jumped after the Reserve Bank of New Zealand hiked interest rates by 50 basis points, to 2%, the highest level since September 2016
Page 6 of 46
NZD/USD jumped after the Reserve Bank of New Zealand hiked interest rates by 50 basis points, to 2%, the highest level since September 2016
During the week of May 16-20 Twitter remained in the spotlight, Wall Street languished as poor results from major retailers reignited fears of stagflation, China’s Xiaomi saw a revenue drop, while more news were in the spotlight
Japan’s core Consumer Price Index (CPI) jumped above the central bank’s 2% target in April as today’s data showed, with the pair trading with caution and heading towards another losing week
The common currency rises today, helped by somewhat hawkish minutes from the European Central Bank and the US Dollar’s demise
The US Index posted its worst day since the height of the pandemic yesterday, as major retailers saw their bottom lines getting crushed, causing risk aversion and renewed fears of stagflation
Unemployment in Australia dropped to the lowest level in nearly 50 years, sending the Aussie higher and making the central bank’s recent tightening efforts easier, ahead of this week’s elections
Large US retailers were in focus this week, as they reported their earnings, which showed lower profitability and margins in an environment of high inflation
The common currency loses steam after the solid start to the week, as mr Powell reasserts his hawkishness and Eurozone inflation stabilizes
The pair comes from six weeks of losses and struggles to snap the streak, trading with caution today below important technical levels
The pair consolidates this week and trades with caution today, as markets digest Chair Powell’s Tuesday commentary and poor data form Japan
XAU/USD takes advantage of the greenbacks demise and extends yesterday’s gains, after avoiding fresh 2022 lows
Risk Warning: Our service includes products that are traded on margin and carry a risk of losses exceeding deposited funds, if you are a professional client. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.
Exchange: ${getInstrumentData.exchange}
${getInstrumentData.bid} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.