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. See our updated Privacy Policy here.

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
Subscribe
Please try again
Wall Street
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
More View more
Real Time News
  • $SPX futes starting the week on a down note testing support from the Aug 26th low. Fed is in a blackout window, announcement on Wednesday. $ES $SPY https://t.co/W0dqFzrsbm https://t.co/5kXWFBJvLk
  • ECB's Kazaks says inflation rise is hump-shaped and transitory $EUR
  • Join @MBForex at 8:30 EST/12:30 GMT for his weekly scalping webinar. Register here: https://t.co/VGr4ZK3QZ9 https://t.co/9HSDsVWigv
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-20
  • - It is the end date which signals that the conditions for an increase in policy rates are getting closer, the precise sequencing and timing will, of course, require careful guidance when the time has come $EUR
  • ECB's Schnabel - As the inflation outlook brightens, it becomes less important how much a central bank buys or when a reduction in pace of net asset purchases states, but rather when such purchases end $EUR
  • Join @CVecchioFX at 7:30 EST/11:30 GMT for a webinar on developing a strategy for major event risk. Register here: https://t.co/D8DAmLpkuS https://t.co/mIuN0EGhBY
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/odzyc8Qi8Y
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/eaA8ZI6DVu
  • Chinese property development company Sinic Holdings (2103) - Down 87%...@DailyFXTeam #contagion #Evergrande https://t.co/h5mfwqGASZ
NZ Dollar Rallies as RBNZ Holds Rates

NZ Dollar Rallies as RBNZ Holds Rates

Lujia lin,

THE TAKEAWAY: RBNZ holds rates at 2.50% > RBNZ wait-and-see approach contrasts with RBA’s dovish bias > Kiwi strengthens

NZ_Dollar_Rallies_as_RBNZ_Holds_Rates_body_Picture_5.png, NZ Dollar Rallies as RBNZ Holds Rates

Chart generated by author using FXCM Strategy Trader

The Reserve Bank of New Zealand left its target for the benchmark cash-rate at 2.50%, in line with consensus estimates. In its statement, the central bank noted that the South Pacific nation’s economy was exhibiting signs of recovery, especially in the housing market, which appears to be rebounding from the Christchurch earthquake last year. In addition, the bank remarked that inflation pressures remain subdued. However, the RBNZ noted that global market conditions remain “fragile” and that the strong Kiwi remains a concern.

The New Zealand Dollar rallied following the release, strengthening over 40 pips from 0.8123 to 0.8166 against the Greenback, with markets continuing to draw a contrast between the “wait and see” stance of the RBNZ and the dovish bias of the RBA.

With inflation well within the RBNZ’s target of 2 percent plus or minus 1 percentage point, there is little scope for rate increases in the near future. In fact, Credit Suisse overnight index swaps continue to imply no change in rates in the next 12 months. Far more important in determining the Kiwi’s course will be the extent of an economic slowdown in China – the main destination for the country’s exports – and risk sentiment tied to the reemerging Eurozone debt crisis.

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

DISCLOSURES