NZ Central bank lifts NZD; GBP falls hard; key US data expected today
City Index April 24, 2014 3:00 PM
<p>NZ Central Bank last night kept with expectations and raised the interest rate to 3% from 2.75%, this gave the NZD a lift of around […]</p>
NZ Central Bank last night kept with expectations and raised the interest rate to 3% from 2.75%, this gave the NZD a lift of around 30 points.
GBP fell hard yesterday after the BoE minutes were to the dovish side of things, but today seems to be gaining some back.
The Euro kept its head above water yesterday after a decent run of PMI’s were released at a near three-year peak.
Today the Eurozone will release the German IFO business climate, expected at 110.5, which could be a good indicator of the economy.
The ECB’s Draghi is set to speak today and it’s always interesting to hear what he will talk about; particularly if there is any mention of inflation worries or exchange rate concerns.
Important data out for the US, today, with core durable goods expected at 0.6% and unemployment claims expected at 309k.
Overnight we go into a NZD and AUD holiday but Japan will release the Tokyo Core CPI – expected at 2.8% from a last of 1% – so potential to be overstated here could be an important piece of data for all you JPY traders.
Supports 1.6750 1.6720 1.6675 | Resistance 1.6820 1.6865 1.6900
Supports 102.20 101.90 101.70 | Resistance 102.75 103.00 103.30
Supports 1.6750 1.6720 1.6680 | Resistance 1.6820 1.6865 1.6890
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