Downward momentum is building; New Zealand Dollar (NZD) is likely to decline vs US Dollar (USD), but it is unclear whether it can break the major support at 0.5450.
Citing sources with direct knowledge of the European Central Bank (ECB) thinking, Reuters reported on Wednesday that the “Eurozone growth is expected to take a bigger hit from US President Donald Trump’s tariffs than the ECB earlier estimated.”
Following the meeting between the Bank of Japan (BoJ), Japanese Financial Services Agency (FSA) and Ministry of Finance (MoF) on Wednesday, Atsushi Mimura, Japan’s Vice Finance Minister For International Affairs and top foreign exchange official, said on Wednesday, they are “closely watching market
Just when the dollar seemed to be regaining some confidence, the US decision to go ahead with a tariff hike of 104% on China led to a rotation away from the greenback.
In China, the PBoC set the USD/CNY fixing at 7.2066 this morning. This marks the fifth consecutive adjustment higher, reinforcing the view that a controlled weakening of the yuan (albeit not a devaluation) is part of China’s policy response to tariffs, ING's FX analyst Francesco Pesole notes
EUR/USD has rallied back above 1.10, banking on idiosyncratic USD weakness. The Atlantic spreads can have inverse correlations with FX if there are signs that markets are losing confidence in a broader spectrum of USD-denominated assets, ING's FX analyst Francesco Pesole notes.
RBNZ cuts 25bps to 3.50%, in line with February guidance and our expectations. Statement strikes a steady tone: downside risks noted, but no rush to reprice the cycle.
There are lots of things moving at the same time and it might be hard to get a sense of what really matters for the markets now. Here are two key things you should focus on.
The USD/CHF pair extends its downside to near 0.8435 during the early European session. The Swiss Franc (CHF) edges higher against the US Dollar (USD) as traders seek refuge from the intensifying market turmoil caused by US President Donald Trump’s sweeping tariffs and fears of a global recession.
Citing people with knowledge of the matter, Reuters reported on Wednesday that senior officials from China’s State Council, several government and regulatory bodies plan to hold a meeting as early as Wednesday in response to US President Donald Trump’s 104% tariffs on Chinese goods.
Ahead of his meeting with the Japanese Financial Services Agency (FSA) and Ministry of Finance (MoF) on Wednesday, Bank of Japan (BoJ) Governor Kazuo Ueda said that the central bank “will continue to raise rates if the economy keeps improving in line with the outlook.”
The USD/CAD pair continues with its struggle to move back above the 100-day Simple Moving Average (SMA) and attracts fresh sellers during the Asian session on Wednesday.
اشترك في هذه المناقشةإشعارني عند نشر مشاركة في هذا النقاشيتم الإشعار عبر الموقع والبريد الإلكتروني. يرجى تحديد تكرار إشعارات البريد الإلكتروني لهذا الاشتراكتكرار الإشعارات:
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