The Australian and New Zealand dollars held near five-week highs on Monday as their U.S. counterpart struggled with expectations of an impending rate cut, while policy in Australia is seen on hold for at least another month.
The Aussie edged up to $0.6857 and further way from last week's low at $0.6724. The next major chart target is a top from September at $0.6895. The kiwi dollar reached $0.6396, up from a trough of $0.6241 last week. It also has a September peak to aim for at $0.6450.
Investors are wagering heavily the U.S. Federal Reserve will cut rates again at its Oct. 30 policy meeting, with futures implying an 88% chance of a move.
In contrast, the market has scaled back bets for an easing from the Reserve Bank of Australia (RBA) at its next meeting on Nov. 5 following data showing an unexpected dip in the jobless rate to 5.2%.
The Reserve Bank of New Zealand (RBNZ) may not wait so long, with the market pricing in around a 87% chance of a quarter-point cut to 0.75% at its Nov. 13 policy meeting.
10 Dec 2019 06:24 PM
The Indian rupee gained for a fifth consecutive session and hit a five-week high against the dollar, driven by corporate and carry trade-related inflows. The rupee settled at 70.92 to the dollar in Mumbai, its highest since Nov. 5, against its previo
10 Dec 2019 03:53 PM
Indian shares ended lower on Tuesday, weighed down by information technology and state-owned bank stocks, as investors took profits in overbought shares toward the year end.
10 Dec 2019 03:22 PM
The euro was little changed versus the dollar on Tuesday as investors were wary of a looming deadline for U.S. tariffs on China, the British election and upcoming Federal Reserve and European Central Bank meetings. The greenback was neutral against a
10 Dec 2019 02:53 PM
Sterling edged higher on Tuesday, cementing recent gains as traders awaited data on economic growth and industrial production and kept an eye on the final days of campaigning ahead of Britain's general election on Thursday. The pound on Monday hit a
10 Dec 2019 12:03 PM
Indian shares inched lower on Tuesday, led by losses in information technology stocks, as investors locked in profits in overbought shares towards the year end. The NSE Nifty 50 index was down 0.14% at 11,920.95 and the benchmark BSE Sensex fell 0.1
10 Dec 2019 11:28 AM
The evolution of the U.S.-China trade war and the direction of global growth momentum remain the primary factors affecting the CNY (onshore yuan). The onshore yuan was trading flat at 7.0380 at midday, having stuck within a tight range of 54 pips in