The Japanese Yen (JPY) struggles to capitalize on a modest Asian session uptick and turns lower for the second consecutive day against its American counterpart on Wednesday.
Reserve Bank of New Zealand’s (RBNZ) Governor Adrian Orr explains the interest rate cut decision at a press conference following the February monetary policy meeting on Wednesday.
Bank of Japan (BoJ) Board Member Hajime Takata said on Wednesday, “the BoJ must gradually shift policy, even after January's rate hike, to avoid upside price risks from materialising.“ Additional quotes Japan's real interest rates remain deeply negative, no change to accommodative monetary environment.
The NZD/USD pair attracts some sellers for the second straight day and drops to a three-day low, around the 0.5680-0.5675 area after the Reserve Bank of New Zealand (RBNZ) announced its policy decision this Wednesday.
US President Donald Trump said late Tuesday that he would likely impose tariffs of around 25% on foreign cars, while semiconductor chips and drugs are set to face higher duties, per Bloomberg.
The Euro is set to end Tuesday’s session with more than 0.30% losses against the Greenback as the S&P 500 notches a record high during the North American session.
The AUD/USD pair halted its three-day recovery on the back of the firmer US Dollar (USD) and despite the Reserve Bank of Australia’s (RBA) hawkish cut although it managed to keep the trade above the 0.6300 barrier.
The Reserve Bank of New Zealand (RBNZ) is widely expected to lower the Official Cash Rate (OCR) by another 50 basis points (bps) from 4.25% to 3.75% when it announces its interest rate decision on Wednesday at 01:00 GMT.
The US Dollar managed to regain some balance and stage a tepid rebound helped by the resumption of concerns over US tariffs, as well as a widespread selling pressure in the risk-linked universe.
The Canadian Dollar (CAD) traded blows with the US Dollar (USD) on Tuesday, keeping USD/CAD stead near the 1.4200 handle as Loonie traders try to hang onto their recent gains.
The US Dollar Index (DXY), which tracks the US Dollar's (USD) performance against six major currencies, rises on Tuesday as traders react to discouraging headlines from the United States (US)-Russia talks in Riyadh.
The Dow Jones Industrial Average (DJIA) stumbled out of the gate on Tuesday, declining around 300 points at its lowest following an extended weekend break.
Federal Reserve (Fed) Bank of San Franciso President Mary Daly noted on Tuesday that prospects of further rate cuts this year remain murky in the face of policy uncertainty despite an overall positive lean to US economic factors.
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