The kiwi is the early mover on the day, being dragged lower after the softer NZ inflation numbers here. NZD/USD in particular is threatening a break b
The kiwi is the early mover on the day, being dragged lower after the softer NZ inflation numbers here. NZD/USD in particular is threatening a break below its 200-day moving average and that is a notable technical development to keep an eye out for.
After the hotter-than-expected UK inflation triggered market jitters yesterday, the dollar gave back some ground in US trading with equities also recovering some poise during the session.
The sense of pushing and pulling this week looks to be continuing and that isn’t making it easy to gather any strong convictions for now. And with a lack of key economic releases in Europe today, we might see more of the same back and forth action until we get to the PMI data set tomorrow.
0600 GMT – Germany March PPI figures
0645 GMT – France April business confidence
0900 GMT – Eurozone February trade balance data
There will also be the ECB accounts for its March monetary policy meeting to be released at 1130 GMT but it shouldn’t tell us anything that we don’t already know ahead of the May decision next.
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
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