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1 week ago | 
fxstreet.com | Kenny Fisher
The New Zealand dollar declined as much as 0.67% earlier but has recovered. In the European session, NZDS/USD is trading at 0.5969, up 0.04% on the day. A day after the Reserve Bank of New Zealand lowered interest rates, Governor Christian Hawkesby testified before a parliamentary committee on Thursday. Hawkesby said the central bank could hold rates in July and that rate decisions would be data-dependent.
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1 week ago | 
fxstreet.com | Kenny Fisher
The Australian dollar has extended its losses on Wednesday. AUD/USD is trading at 0.6415 in the North American session, down 0.44% on the day. Australia's inflation rate remained unchanged in April at 2.4% y/y for a third straight month, matching the lowest rate since Nov. 2024. The reading was slightly higher than the market estimate of 2.3% but remained within the central bank's inflation target of 2%-3%.
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1 week ago | 
es.dailyforex.com | Kenny Fisher |Sara Buganim
Por Kenny Fisher Revisor Sara BuganimSara Buganim dirige el equipo editorial en Español de Global on Media. Antes de entrar en el mundo del Forex, Sara se licenció en Biología por la Pontificia Universidad Javeriana de Bogotá (Colombia). Desde entonces, ha adquirido más de una década de experiencia en fintech latinoamericano, habiendo trabajado para gigantes de la industria como iForex, y AvaTrade, antes de unirse al equipo de DailyForex en 2019. ...
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1 week ago | 
dailyforex.com | Kenny Fisher
The decision to cut rates to 3.25% was widely expected by the markets and marked a sixth straight cut by the central bank. The cash rate is currently at its lowest level since August 2022. The RBNZ has been aggressive as it has chopped rates by 225 basis points in the current easing cycle as it is determined to boost the weak economy.
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1 week ago | 
fxstreet.com | Kenny Fisher
The Japanese yen is down for a second straight day. In the European session, USD/JPY is trading at 144.14, up 0.91% on the day. BoJ core CPI rose to 2.4% in April, after three straight readings of 2.2% and above the market estimate of 2.3%. This was the highest level since Jan. 2024. Japan's Services PPI also rose to 3.1% in April, lower than the upwardly revised 3.3% gain but above the market estimate of 3.0%.
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1 week ago | 
fxstreet.com | Kenny Fisher
The Canadian dollar has steadied on Monday after surging 0.90% on Friday. In the European session, USD/CAD is trading at 1.3714, down 0.13% on the day. Earlier the Canadian dollar improved to 1.3686, its strongest level since Oct. 2024. US markets are closed for Memorial Day and there are no US or Canadian events, which likely will mean a quiet day for USD/CAD. Canada's retail sales impressed in March, rising 5.6% y/y, up from 4.7% in February and beating the forecast of 3.8%.
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2 weeks ago | 
fxstreet.com | Kenny Fisher
The British pound has posted gains on Friday. In the European session, GBP/USD is trading at 1.3484, up 0.49% on the day. The pound has gained 1.5% this week and is trading at levels not seen since Feb. 2022. The markets were expecting a banner reading from April retail sales but the actual numbers crushed the forecast. Annual retail sales surged 5%, up from a downwardly revised 1.9% and above the market estimate of 4.5%. This marked the fastest pace of growth since Feb. 2022.
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2 weeks ago | 
fxstreet.com | Kenny Fisher
The British pound posted gains earlier but has failed to consolidate. In the European session, GBP/USD is trading at 1.3395, up 0.03% on the day. The pound has gained 1.1% this week and earlier today rose as high as 1.3468, its highest level since Feb. 2022. UK inflation jumped to 3.5% y/y in April, up sharply from 2.6% in March and above the market estimate of 3.3%. This was the highest annual inflation rate since Jan. 2024 and was driven by higher prices for transport, housing and energy.
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2 weeks ago | 
dailyforex.com | Kenny Fisher
The Reserve Bank of Australia (RBA) lowered the cash rate by a quarter-point to 3.85% at today’s meeting. The decision was not a surprise, but the Australian dollar has declined considerably following the decision. The cut is the second this year, following a quarter-point cut in February and brings the cash rate to its lowest level since May 2023.
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2 weeks ago | 
fxstreet.com | Kenny Fisher
The Australian dollar has started the week in positive territory, after losses in three straight trading days. In the European session, AUD/USD is trading at 0.6449, up 0.65% on the day. The Reserve Bank of Australia is widely expected to lower the cash rate to 3.85% from 4.1% on Wednesday, which would be the lowest rate since May 2023. The blowout employment report last week, which saw the economy add 89 thousand jobs, hasn't changed the view of the markets about a rate cut.
