The Japanese yen was mixed today after economic data that put markets in a risk-on mode. Markit released services Purchasing Managers’ Indices for a range of countries during the trading session. Of particular importance to the yen were the reports for China and Japan.
The New Zealand dollar climbed against all other most-traded peers today thanks to the relatively positive domestic macroeconomic data and the market sentiment that was supportive of riskier currencies.
The New Zealand dollar was the weakest among the most-traded currencies on the Forex market today. While domestic macroeconomic data could have played a part in the decline, market analysts speculated that the major reason for the drop was the brewing trade war between the United States and China.
The New Zealand dollar was among the strongest currencies today amid the mildly positive market sentiment. The currency waits for tomorrow’s monetary policy decision from the Reserve Bank of New Zealand. No economic reports were released in New Zealand today while yesterday’s data was not bad but not particularly good either.
The New Zealand dollar attempted to rally today following a surprisingly positive employment report that showed that New Zealand unexpectedly added jobs last quarter. The currency has retreated against some of its rivals by now but managed to keep gains versus others.
The Japanese yen was about flat versus major currencies today. The yen was trying to rise against commodity currencies but so far it had limited success. Negative domestic macroeconomic data and the rise of crude oil prices were working against the Japanese yen but the pessimistic mood, which persists among investors, was working in favor of the Japanese currency.
The New Zealand dollar traded flat or higher against its most-traded counterparts today. There were two reasons for the currency’s good performance: the government’s plans to ease the lockdown restrictions and positive inflation data released today.
The New Zealand dollar dropped today after the Reserve Bank of New Zealand made a surprise announcement of a quantitative easing program. Currently, the kiwi has trimmed its losses but is still trading below the opening level against its most-traded counterparts, with the exception of the Australian dollar. The Aussie was dragged down by bond purchases under the quantitative easing program of its own central bank.
The New Zealand dollar dropped to new multi-year lows against other most-traded currencies today. Losses were across the board as the kiwi was falling even against other vulnerable commodity currencies. Even the GDP report that came out in line with expectations was unable to help the New Zealand currency.
The New Zealand dollar fell today against other most-traded currencies, logging the fifth consecutive session of decline against its US counterpart. While the kiwi rose a bit yesterday after the government announced a stimulus package, the rally was short-lived as risk aversion dragged the currency down.
