Expectations of a Fed rate hike possibility have seen plenty of volatility recently, so let’s see if the FX markets are equally volatile on this Wednesday.
New Zealand Dollar has been heading up against the Loonie Dollar throughout the day and the pair has gained slightly more than 1% to post the day’s biggest move.
Kiwi Dollar tops the advancers and decliners table for the second day in a row and it’s point 49% up from the Swiss Franc, which is also having a generally bullish day.
Buck declined as investors scaled back their expectations of a rate hike by the Fed and it’s close to level with the Single currency.
Australian GDP increased slightly less than expected and Ozzy Dollar is followed closely by the Japanese Yen.
UK Manufacturing production dropped by point 9%, putting downward pressure on the Sterling, which is up only from the Loonie Dollar.
Bank of Canada left monetary policy unchanged, citing increasing risks of weak inflation and slow economic growth.
Leader of the weekly advancers table is New Zealand/Dollar with an increase of close to 3%. Dollar/Canada tops the bearish table, standing almost 2% in the red.
New Zealand/Dollar has appreciated the most over a month and the pair is up by 4.7%. Australia/New Zealand has had a bearish month, standing more than 4% in the negative territory.
I’m Kiays Khalil and that’s it for Wednesday’s report, but do click back tomorrow for the next overview. Goodbye.
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