OctaFX | OctaFX Forex Broker
Open trading account

Session Recap: RBNZ hits the spotlight; China trade surplus beats estimates

FXstreet.com (Barcelona) - NZD/USD was heavily sold today in Asia-Pacific on RBNZ governor comments saying the central bank has been selling Kiwi dollars in past weeks, and that even could lower rates if high housing market started to ease as a threat. The pair sold off below the 0.84 handle, extending yesterday's loses.

The USD though weakened a bit overall following better than expected China trade surplus, showing exports still rose more than 14% year on year, when +9% was expected, which also helped Aussie managing to print a double low above the 1.0150 mark, following yesterday's slump below the 1.02 handle on record low RBA rate cut at 2.75%.

Local share markets all show profits without exception, following overnight's all time record highs in US equities, with SP500 closing in NY at fresh 1625 highs, level never seen before. Oil has moved slightly higher during the session above the $95 mark, while Gold first saw some selling followed by some buying to fresh session highs, to end up the session pretty much unchanged around the $1454 mark for the spot market.

Main headlines in the Asian Session:

RBNZ’s Wheeler: House prices growth is problematic, RBNZ to apply higher LVR from Sept 30

RBNZ Weeler: NZD is overvalued, hinders rebalancing

Forex: EUR/USD closed flat on the day, what’s moving the Euro?

US Treasury’s Lew: US economy should be growing by 3% or more next year

RBNZ sees heightened risks to New Zealand's financial stability

Forex: NZD/USD below 0.8450 on RBNZ Financial report

Forex: AUD/USD chart setting up for further declines?

Forex: AUD/NZD shrugs off initial declines to finish slightly higher

Forex: AUD/JPY still above key 100 level

Forex: EUR/JPY advances continue to be capped at 130.50

Commodities Brief: Precious metals finish lower as US equities continue to outperform

RBNZ’s Wheeler: Says there is scope to cut rates if the house price risk removed

Forex: NZD/USD succumbs below 0.84; RBNZ selling the Kiwi

Forex: US Dollar Index still struggling to find direction on daily chart

Japan’s finance minister Taro Aso: Aim is to raise sales tax while monitoring the economic situation

China trade surplus stronger-than-expected

Forex: GBP/USD rally runs out of steam, finishes day sharply lower

ECB might support idea of buying ABS

Forex Flash: AUD/USD, look for support around 1.0115 to hold - BNZ

In view of Mike Jones, currency strategist at Bank of New Zealand, another RBA rate cut would look too much, a statement that contradicts their colleagues at NAB, still expecting another 25bps cut in June.
Read more Previous

Forex: EUR/USD unable to find direction as global equities continue higher

The EUR/USD closed the session up 6 pips at 1.3078. German Factory Orders print came in above expectations at 2.2% vs. -0.5% estimates which initially helped the pair trade as high as 1.3131 earlier in the day. However, some analysts are pointing towards the lack of consistency in the data as a main catalyst for why the Euro showed no follow through. Economic data in the coming European session will be focused on German Industrial Production, due out at 10:00GMT. The US Session will also be quiet with major releases scheduled.
Read more Next
Start livechat