Market
Brief
NZD
collapsed, USD strengthens its positions
At
the beginning of a new week, all focus goes to NZD once again as it dropped
heavily by -1.5% today versus the USD edging lower to $0.7752 , the lowest in a
year. It is clear that the intervention by the Central Bank of New Zealand and
New Zealand‘s prime minister comments had the major impact on their currency.
RBNZ sold NZD $521 in August 2014, the highest since 2007. At the same time,
NZD Prime Minister supported the RBNZ measures saying that the intervention
will be logical as NZD value remains high. On the other hand, all other major
currencies had bearish performance versus the greenback today in Asia. In Japan
‘USDJPY increased to 109.59 Yen, the highest level in almost seven years. The
debate of the US rate hike and the improvement of the US yields to 2.58% on the
US 10 Y treasury notes supported the USD, however many policy makers warned of
the fast & massive drop of the Yen. Bank of Japan Kuroda reassured that the
bank will be ready to adjust the monetary policy if needed. The Japanese equities
benefited from the Yen weakness, achieving good gains, Topix 0.39%, Nikkei
0.50%. Japan will have a busy day, waiting for overall spending in August while
the estimates remain positive, and meet Bank of Japan’s plans. Japan’s retail
trade and unemployment rate will be scheduled to release later today.
Regards,
Customer Relationship
and Promotion Dept.
FX PIP Signal
support@fxpipsignal.com
Website
http://www.fxpipsignal.com/
Customer Relationship
and Promotion Dept.
FX PIP Signal
support@fxpipsignal.com
Website
http://www.fxpipsignal.com/
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