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German’s GFK Consumer Confidence Survey unexpectedly fell to -8.8 in May.
The Fed is not thinking about tapering but for sure sees things improving.
EUR/USD holds on to intraday gains and could extend its rally towards 1.2200.
The EUR/USD pair reached fresh April highs after the US Federal Reserve announced its monetary policy decision. The US Central Bank maintained its monetary policy unchanged as widely anticipated, making just minor adjustments to the accompanying statement. US policymakers see inflation and employment performing a bit better than when they met before but maintained their cautious stance about the persistent risks to the economy. Inflation has risen, largely reflecting transitory factors.
Report from RNZ
The latest Trade Me Property Price Index shows the national average asking price for a home has hit a record $805,000. Wellington experienced the highest year-on-year growth in price, with the average asking price increasing by 20 percent compared with the same month last year. Auckland prices went up 10 percent on the same time last year.
Trade Me property sales director Gavin Lloyd said the national average asking price showed an annual increase of 16 percent in the year to March, with almost every region experiencing price jumps.
Lloyd told Morning Report there was a big demand in March up by 26 percent but supply was down 9 percent.
4/28/2021 1:01:54 PM GMT
EUR/USD Current Price: 1.2070
The German GFK Consumer Confidence survey unexpectedly contracted to -8.8 in May.
The US Federal Reserve is expected to maintain its policy unchanged, focus on QE.
EUR/USD consolidates monthly gains lacking bullish potential in the near-term.
The EUR/USD pair trades at around 1.2070, pretty much unchanged on a daily basis ahead of the US Federal Reserve’s monetary policy announcement. Investors are mildly optimistic ahead of the event, scheduled for Wednesday’s afternoon.
US Treasury yields are up, as well as stocks, with the greenback mostly up across the board, although major pairs remain within familiar levels. Germany published the May GFK Consumer Confidence Survey, which printed at -8.8 worse than the previous -6.1 and missing the expected -3.5. The US released the preliminary estimate of the March Goods Trade Balance, which printed a deficit of $-90.59 billion. As for the Fed, investors are expecting the centra
Photo: RNZ / Nate McKinnon
Trade Me property sales director Gavin Lloyd said the national average asking price showed an annual increase of 16 percent in the year to March, with almost every region experiencing price jumps.
Wellington experienced the highest year-on-year growth in price, with the average asking price increasing by 20 percent compared with the same month last year.
Auckland prices went up 10 percent on the same time last year.
Lloyd told
Morning Report there was a big demand in March up by 26 percent and but supply was down 9 percent. We saw growth through every region except for Nelson, the West Coast, Otago and Northland. New records were set in every region. Auckland broke through the million mark.
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US data beat expectations, but investors remained in cautious mode.
US Federal Reserve set to announce its monetary policy decision on Wednesday.
EUR/USD is technically neutral in the near-term but holding near monthly highs.
The EUR/USD pair held within familiar levels, ending Tuesday unchanged in the 1.2080 price zone. The pair fell to 1.2060 during European trading hours, as a cautious mood prevailed. European indexes closed in the red, although not far from their opening levels, weighing on US indexes, which anyway traded mixed around their opening levels.
Investors ignored upbeat US data as the Conference Board Consumer Confidence Index rose in April to 121.7 from 109.0 in March, widely surpassing the market’s expectations. The country also published the April Richmond Fed Manufacturing Index, which held at 17, better than the expected 16. The EU didn’t publish macroeconomic data.