Collinson FX Market Commentary - Sept 20 - Bloomberg bats for KIWI
by Collinson FX on 20 Sep 2016
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Collinson FX Market Commentary - Sept 20 - Bloomberg bats for KIWI
Sept 20 - The week to come is probably going to be unexceptional, in terms of data release, allowing analysts to speculate on Central Bank activity. Equity markets remained steady, while the Dollar gained some ground, allowing markets to settle.
The EUR slipped back to 1.1180, while the GBP held 1.3000, under extreme pressure after recent rallies. Bloomberg has come in to bat for the KIWI, offering justification for the relative currency strength, citing the 3.6% GDP number.
This will undermine any argument the RBNZ has to cut further, but look at comparable interest rates?? The NZD trades around 0.7300, while the AUD holds around 0.7550, fighting a rising reserve.
Collinson FX Market Commentary - Sept 18 - RBNZ decision factored in?
Sept 18 - US inflation data was flat, telegraphing inaction from the Fed, contrary to inane rhetoric. Equities reacted by slipping, seemingly exhausted with all the liquidity, while the Dollar regained momentum. The EUR slipped back to 1.1150, while the GBP tests 1.3000, on the downside.
The Pounds momentum seems to be in reverse, with the Dollar aiding to the dovish Bank of England monetary policy. The coming week will not be a huge one for economic data releases, so expect further speculation, with regards Central Bank activity. The AUD fell below 0.7500, while the NZD dropped to 0.7250, perhaps anticipating the coming RBNZ rate decision!?
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