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On Monday, the Australian Dollar registered losses of 0.4% against the US Dollar, sponsored by an improvement in business activity in the United States (US). ....
Activity in global financial markets remain generally subdued due to the extended Easter holiday in many regions. Nevertheless, Japan's markets kicked off the new fiscal year on a tumultuous note, with Nikkei index having a sharp sell-off. Analysts have largely dismissed the latest quarterly Tankan survey as the catalyst for this downturn. Instead, the sell-off could be attributed to institutional investors engaging in profit-booking activities typical of the financial year's commencement. Meanwhile, Yen remained relatively stable, showing little reaction and maintaining a very tight range amid the market activity. ....
Tonight at 20:00 CET the rate decision of this week's meeting in the FOMC is announced. We expect no monetary policy changes. With no new economic projections, focus will be on Powell's remarks in the press conference starting at 20:30 CET. We do not expect the meeting to be a major market mover, but see risks tilted towards a modestly hawkish reaction if Powell pushes back against the notion of rapid rate cuts and/or end to QT. Read more in our Fed preview - Patience and gradualism, 26 January. On the data front, January ADP private sector employment and Q4 Employment Cost Index will be released ahead of the rate decision. ....
The NZD/USD kicked into an early intraday peak of 0.6286 in the first half of Thursday’s trading, propped up by Chinese Services Purchasing Managers’ Index (PMI) figures beating expectations, but a surge in US labor and jobless claims sees investors pulling back to familiar midranges ahead of Friday’s US Nonfarm Payrolls (NFP labor print. ....