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Forex Today: US Dollar holds ground, markets await comments from Fed officials and US data
Here is what you need to know on Tuesday, September 29:
Spain Consumer Price Index (YoY) above expectations (4.7%) in September: Actual (4.9%)
Spain Consumer Price Index (YoY) above expectations (4.7%) in September: Actual (4.9%)
Spain Harmonized Index of Consumer Prices (YoY) registered at 5% above expectations (0%) in September
Spain Harmonized Index of Consumer Prices (YoY) registered at 5% above expectations (0%) in September
Spain Consumer Price Index (MoM) registered at 0.3% above expectations (0%) in September
Spain Consumer Price Index (MoM) registered at 0.3% above expectations (0%) in September
Spain Harmonized Index of Consumer Prices (MoM) above forecasts (0%) in September: Actual (0.6%)
Spain Harmonized Index of Consumer Prices (MoM) above forecasts (0%) in September: Actual (0.6%)
Spain Retail Sales (YoY) came in at -0.4%, below expectations (0%) in August
Spain Retail Sales (YoY) came in at -0.4%, below expectations (0%) in August
Turkey Economic Confidence Index above expectations (0) in August: Actual (101.3)
Turkey Economic Confidence Index above expectations (0) in August: Actual (101.3)
Switzerland KOF Leading Indicator above forecasts (105.8) in August: Actual (109.1)
Switzerland KOF Leading Indicator above forecasts (105.8) in August: Actual (109.1)
New Zealand Dollar declines to near 0.5650 despite RBNZ hike bets
The NZD/USD pair loses momentum to near 0.5655 during the early European trading hour on Tuesday. The New Zealand Dollar (NZD) extends its downside to a three-month low against the US Dollar (USD) amid ongoingUS-Iran tensions. Traders will keep an eye on the Fedspeak later on Tuesday.Â
Australian Dollar: RBA hike reinforces hawkish stance – Deutsche Bank
Deutsche Bank’s macro strategy team notes that the Reserve Bank of Australia raised its cash rate by 25 basis points to 4.60%, in line with expectations. The RBA signalled that inflation remains too high and left the door open to further tightening if needed.
Australian Dollar: RBA’s hawkish hike caps upside – Commerzbank
Commerzbank’s Volkmar Baur reports that the Reserve Bank of Australia raised its cash rate by 25 bps to 4.6%, the highest level in about 15 years, and struck a notably hawkish tone.
Australian Dollar dips to fresh lows sub-0.7000 despite hawkish RBA Bullock
The Australian Dollar (AUD) extends losses against the US Dollar (USD) on Tuesday, despite the Reserve Bank of Australia’s (RBA) interest rate hike and Governor Bullock's comments hinting at further monetary tightening ahead.
USD/JPY Price Forecast: Tests nine-day EMA support after falling below 157.50
USD/JPY loses ground after posting minor gains the previous day, trading around 157.30 during the Asian hours on Tuesday. The currency pair is remaining within a symmetrical triangle, which indicates a period of market consolidation, where neither buyers nor sellers are in control.