0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
More View more
Real Time News
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/XOTxEejF5O
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.62% Gold: -1.24% Silver: -3.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lBG9B5iYSk
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.19% 🇳🇿NZD: 0.19% 🇨🇭CHF: 0.06% 🇪🇺EUR: -0.04% 🇬🇧GBP: -0.08% 🇯🇵JPY: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/jOgEIxjTiT
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: France 40: 0.85% Germany 30: 0.84% FTSE 100: 0.65% Wall Street: 0.23% US 500: 0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/CIkPYnBu5L
  • #Gold prices are sinking, dipping back below the $2k/oz figure as inflation expectations continue to ease following Friday's US jobs data. The report showed faster job creation and higher wage growth, cooling Fed stimulus bets
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/D5upwqIsgB
  • 🇬🇧 Claimant Count Change (JUL) Actual: 94.4K Expected: 10K Previous: -28.1K https://www.dailyfx.com/economic-calendar#2020-08-11
  • 🇬🇧 Employment Change (MAY) Actual: -220K Expected: -288K Previous: -126K https://www.dailyfx.com/economic-calendar#2020-08-11
  • 🇬🇧 Average Earnings excl. Bonus (JUN) Actual: -0.2% Expected: -0.1% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-08-11
  • 🇬🇧 Average Earnings incl. Bonus (JUN) Actual: -1.2% Expected: -1.1% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-08-11
NZ Dollar Slumps on Dovish RBNZ, US Dollar Eyeing Fed Comments

NZ Dollar Slumps on Dovish RBNZ, US Dollar Eyeing Fed Comments

2017-02-09 11:15:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • NZ Dollar sinks as RBNZ pours cold water on rate hike outlook
  • Yen gains, Aussie and Loonie rise as risk appetite firms in Asia
  • US Dollar may fall if Fed officials’ hawkish conviction wavers

The New Zealand Dollar slumped in overnight trade following the RBNZ monetary policy announcement, as expected. A cautious policy statement released alongside the decision to keep the cash rate steady at 1.75 percent poured cold water on tightening bets.

Governor Graeme Wheeler predicted that policy will remain accommodative for a considerable period,” citing an uncertain in the international outlook. He added thatpolicy may need to adjust accordingly,” which might even have been meant to hint at an easing bias.

The Kiwi fell alongside front-end local bond yields, reinforcing the sense that traders interpreted the statement as broadly dovish. Markets priced in at least one hike over the coming 12 months ahead of the RBNZ announcement. OIS rates afterward suggest investors are no longer convinced.

The Japanese Yen likewise traded lower as most Asian stocks advanced, pressuring the standby anti-risk currency. The risk-on mood likewise offered support to the sentiment-sensitive Australian and Canadian Dollars.

The British Pound jumped higher late into the Asian session, erasing losses suffered earlier in the day to post meaningful gains versus all of the G10 FX majors. The move occurred as Gilt rates gapped sharply higher as UK bond trading reopened for the day, offering the currency a bit of yield-based support.

A lackluster offering of economic data puts Fed-speak at the forefront from here. James Bullard and Charles Evans – Presidents of the US central bank’s St. Louis and Chicago branches, respectively – are due to speak. A sense that fiscal policy uncertainty has officials wavering on rate hikes may hurt the US Dollar.

Did DailyFX analysts get it right so far in the first quarter? See our forecasts and find out!

Asia Session

NZ Dollar Slumps on Dovish RBNZ, US Dollar Eyeing Fed Comments

European Session

NZ Dollar Slumps on Dovish RBNZ, US Dollar Eyeing Fed Comments

** All times listed in GMT. See the full DailyFX economic calendar here.

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.