Now: Dollar Fall, Major Currencies Rejoice
The minutes from the RBA show a strong hawkish tone has bring a good momentum for the AUD especially against greenback as the king had a huge upset yesterday. The same situation happened to Canada dollar where the Consumer Price Index for Canada support the strength of Lonnie.
On other hand New Zealand’s Consumer Price Index data show a slight lower data compare to forecast though it still higher compared to previous quarters. The current CPI is at 1.8% which is 0.2% shy away from the target CPI at 2.0%. The expectation for the rate hike is a bit lower because of it.
Euro also gains a bit of the ground against greenback as the data on the eurozone industrial production show a promising figure and also a hawkish rumour on ECB that may potentially hike their interest rate this incoming July.
Statement from Jerome Powell today will be one of the main attractions to market participants as it has potential to become the catalyst for another huge bull run for the dollar AS. Christine Lagarde and also Andrew Bailey also will have they speech later on, so people will see the difference in their policy and predict on how the currency market will move.
21 April 2022