RBNZ with a big surprise, CPI data in focus today
|Important news for the day:
-
Wed, 14th, 04:00 CET NZ Interest rate decision.
-
Wed, 14th, 14:30 CET US core consumer prices index.
US rate decision
Investors should get more clarity with fresh consumer prices index data from the US today. It is expected that the data will rise slightly today. However, recent words from Jerome Powell pointing out that a rate decrease might follow in September. Currently employment data shows that economic activity is currently falling. Comments from Fed member Raphael Bostic, however, state that still more incoming data would be needed before the Fed should act.
Market talk
Before the consumer price data today the USD has been losing more steam as traders anticipate the news this afternoon. Early this morning the Royal Bank of New Zealand had already started to reduce rates. This was not expected. The move sparked negative momentum in the Kiwi, which lost sharp momentum against other currencies. It was previously expected that the RBNZ will cut rates much later this year.
Tendencies in the markets
-
Equities positive, USD weak, cryptos positive, oil at resistance, metals positive, JPY weaker.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.