[FOREX News] AUD/USD saw a gradual and steady decline since the get-go, with
technicals communicating bearish continuation and the NAB Monthly
Business Survey for February 2015 exacerbating the pain, as the market
learnt that business confidence deteriorated further from 3 to 0 even
after the RBA rate cut.
China Consumer Price Index (MoM) came above expectations (0.8%) in February, with the actual at 1.2%, while the yearly stood at 1.4% vs 0.9% expected. While there were some comments that improved inflation data may provide the PBOC some scope to hold off from further easing, the pick up in inflation is thought to be temporary, with its main contributor being the Chinese new year period, according to the Chinese Bureau of Statistics.
NZD/USD traded heavy following news that Fonterra trading had been halted in its dairy industry entities, due to a threat made to contaminate infant milk formula, NZ police reported, despite no signs of any contamination. Even New Zealand's Minister of Primary industry said New Zealand infant formula "just as safe today as it was before". NZD/USD registered its lowest at 0.7275.
USD/JPY kept roaring higher, making fresh trend highs at 122.00, breaking marginally its former peak at 121.82 from early Dec 2014. The rise was driven by USD strength across the board, with leveraged names main suspects riding the pair up, with 122.00 expected to provide enough 2-way money negotiations to potentially close some of the long deals being carried from 120.00+.
China Consumer Price Index (MoM) came above expectations (0.8%) in February, with the actual at 1.2%, while the yearly stood at 1.4% vs 0.9% expected. While there were some comments that improved inflation data may provide the PBOC some scope to hold off from further easing, the pick up in inflation is thought to be temporary, with its main contributor being the Chinese new year period, according to the Chinese Bureau of Statistics.
NZD/USD traded heavy following news that Fonterra trading had been halted in its dairy industry entities, due to a threat made to contaminate infant milk formula, NZ police reported, despite no signs of any contamination. Even New Zealand's Minister of Primary industry said New Zealand infant formula "just as safe today as it was before". NZD/USD registered its lowest at 0.7275.
USD/JPY kept roaring higher, making fresh trend highs at 122.00, breaking marginally its former peak at 121.82 from early Dec 2014. The rise was driven by USD strength across the board, with leveraged names main suspects riding the pair up, with 122.00 expected to provide enough 2-way money negotiations to potentially close some of the long deals being carried from 120.00+.
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