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The New Zealand dollar appreciated past $0.59, recouping some losses from earlier in the week as the greenback retreated on weaker-than-expected US jobs data which lowered the odds that the Federal Reserve would raise interest rates again this year. Domestically, the  Reserve Bank of New Zealand kept its policy rate unchanged at 5.5% during its October policy meeting as widely expected, but defied expectations that it would signal further tightening given upside risks to inflation. The board said the cash rate “needs to stay at a restrictive level to ensure that annual consumer price inflation returns to the 1 to 3% target range and to support maximum sustainable employment.” The central bank also noted that New Zealand’s growth outlook remains subdued despite stronger-than-expected GDP growth in the second quarter.

New Zealand Dollar Rebounds as Greenback Eases

The Australian dollar appreciated past $0.635, rising further from 11-month lows as the greenback retreated on weaker-than-expected US jobs data which lowered the odds that the Federal Reserve would raise interest rates again this year. Domestically, the Reserve Bank of Australia kept its cash rate unchanged at 4.1% during its September policy meeting, holding rates for the fourth straight month as widely expected. Still, the board said that inflation remains too high and that some further tightening may be needed to bring back inflation to the target range of 2% to 3% in late 2025. The central bank also noted that the economy performed better than expected in the first half of this year despite headwinds at home and abroad. Meanwhile, data showed that Australia posted a larger than expected trade surplus in August on the back of strong exports.

Australian Dollar Rises as Greenback Eases

The Japanese yen appreciated past 149 per dollar, rising further from 11-month lows as the dollar retreated on weaker-than-expected US jobs data which lowered the odds that the Federal Reserve would raise interest rates again this year. Earlier this week, the yen also jumped as much as 1.7% to 147.3 in what traders attributed to a possible government intervention, before giving back most of those gains. Meanwhile, the latest money market data from the Bank of Japan indicated that it did not conduct yen-buying operations when the currency plunged to 150 per dollar on Tuesday. Reuters also suggested that what transpired could have been a mere rate check by the BOJ during the New York session, causing banks that typically handle intervention to respond by selling USD/JPY en masse. Still, Finance Minister Shunichi Suzuki recently warned that he was watching currency moves “cautiously.”

Japanese Yen Gains on Dollar Weakness

Gold firmed up above $1,820 an ounce on Thursday, rebounding slightly from seven-month lows as the dollar and Treasury yields pulled back on weaker-than-expected US jobs data. The metal came under heavy selling pressure last week amid hawkish signals from the US Federal Reserve, but traders are starting to scale back those bets in light of recent data. The US ADP report showed that private job growth totaled 89,000 in September, the least since January 2021 and well below the 153,000 expected by analysts. Meanwhile, the ISM Services PMI pointed to a slower albeit strong growth in the services sector in September and factory orders rose way more than expected in August. Investors now look ahead to weekly jobless claims data on Thursday and September’s nonfarm payrolls report on Friday for further guidance.

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We are friends with the trend on DJ30

Since gold didn't test our level

Wickfill incoming on GBPJPY

We ride the trend on AUDUSD

Latest News

New Zealand Dollar Rebounds as Greenback Eases

Australian Dollar Rises as Greenback Eases

Japanese Yen Gains on Dollar Weakness

Gold Edges Higher as Dollar, Yields Ease

Upcoming Events

Japan 6-Month Bill Auction

Japan 30-Year JGB Auction

Germany Balance of Trade

Germany Exports MoM

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest Ideas

We are friends with the trend on DJ30

Since gold didn't test our level

Wickfill incoming on GBPJPY

We ride the trend on AUDUSD

Latest News

New Zealand Dollar Rebounds as Greenback Eases

Australian Dollar Rises as Greenback Eases

Japanese Yen Gains on Dollar Weakness

Gold Edges Higher as Dollar, Yields Ease

Upcoming Events

Japan 6-Month Bill Auction

Japan 30-Year JGB Auction

Germany Balance of Trade

Germany Exports MoM