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The yen had roughly uniform price action across yen pairs but was mixed for the week. And as you can see in the overlay of inverted JPY pairs above, yen pairs had two-way action this past week. As you can also see, yen pairs were as usual taking directional cues from bond yields and bond yields also had two-way action during this past week.
The Loonie was a net loser this week. The BOC also refrained from sounding too happy with regard to the recent positive economic developments. As usual, the Aussie took directional cues from gold for the most part. Heck, the Aussie was even the second worst-performing currency of the week.
The RBA also gave its latest monetary policy announcement a few hours after the retail sales report was released. That event was essentially a dud, but it did allow the Aussie to extend its gains slightly, likely because the latest RBA statement was a tad more optimistic on inflation, given that the RBA removed the following statement from its assessment and outlook. However, that RBA still warned about the negative effects of a stronger Aussie when it repeated its mantra that: Year-on-year, that translates to a 2.
Aussie pairs quickly turned to gold prices for direction, though, likely because the 2. Also, an annual growth rate of 2. This now puts some risk on the upside for inflation and interest rates. If the assumption proves incorrect and global inflation picks up in response to increased global growth , then we would likely see higher international interest rates, a lower NZ dollar exchange rate and higher traded goods inflation.
This would put upward pressure on domestic interest rates. In short, the RBNZ is saying that it assumed that global inflation will remain weak. So if global inflation picks up, and other central banks raise their interest rates, then that would likely mean that the RBNZ would have to raise rates earlier than expected as well.
Higher global inflation would also prompt a faster tightening of global monetary policy than assumed , resulting in a faster narrowing of interest rate differentials and, therefore, a depreciation of the New Zealand dollar TWI. In this scenario, the OCR would need to be around basis points higher. Moving on, Kiwi bulls tried to push the Kiwi even higher. Kiwi bulls put up a fight, though. And it probably helped that the most recent dairy auction resulted in the GDT price index rising by 0.
The Kiwi would find late sellers on Friday, likely because of profit-taking. Well, against most of its peers at least, since the Kiwi ended up losing out to the pound while having no fighting chance against the Greenback to begin with. Real generosity toward the future consists in giving all to what is present. Partner Center Find a Broker. Every day, I will present to you my findings and daily commentaries on what recently happened in the economic arena, possible shifts in sentiment, economic events to watch out for, and their effects on currencies.
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To access this table, click on the Forex Market News link at the top of the page and then click on the Market News Home link. Near the bottom of the page, you will find table of the Top Movers. This shows what currency pairs have moved the most in the last day, the last week and the last month. Forex Top Gainers and Losers - Risers and Fallers Top Market Gainers and Losers is a unique and powerful analytical tool, that is able to instantaneously calculate top market movers. Movers & Shakers FX The Intraday Movers & Shakers widget shows daily change in currency prices. Click on any currency to make it the reference instrument, showing .