TD Securities analysts review the latest Reserve Bank of New Zealand (RBNZ) decision, noting the cash rate was held at 2.25% while inflation forecasts were revised sharply higher for Q1 and Q2.
The Australian Dollar (AUD) is trading higher against the US Dollar (USD) for the third consecutive day on Wednesday, boosted by investors’ optimism about the ceasefire in Iran.
United States MBA Mortgage Applications up to -0.8% in April 3 from previous -10.4%
The Indian Rupee (INR) jumps to a fresh over three-week high against the US Dollar (USD) on Wednesday. The USD/INR pair slides to near 92.30 as the US Dollar weakens and global oil prices nosedive, following a temporary ceasefire between the United States (US) and Iran.
The US Dollar (USD) accelerated its reversal against the Swiss Franc (CHF) on Wednesday, as investors pared back US Dollar long positions following the announcement of a ceasefire in Iran.
Commerzbank notes that the Dollar is selling off as risk sentiment improves, with the Euro rising close to 1.17 against the Dollar following the ceasefire news.
DBS Group Research’s Eugene Leow notes that Gold surged over 2% to above USD4800 after a two-week ceasefire between the US and Iran reduced immediate escalation risks.
Germany 10-y Bond Auction increased to 2.92% from previous 2.89%
The Euro (EUR) accelerated its decline against the British Pound (GBP) on Wednesday, with bears testing support at 0.8700 at the time of writing. The Pound fares better than the common currency amid the positive market sentiment triggered by the ceasefire in Iran.
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $76.91 per troy ounce, up 5.38% from the $72.98 it cost on Tuesday.
The EUR/USD pair trades 0.75% higher to near 1.1700 during the European trading session on Wednesday. The major currency pair strengthens as the US Dollar (USD) underperforms amid an upbeat market mood.
Brown Brothers Harriman’s (BBH) Elias Haddad highlights that NZD/USD has surged over 2% on improved risk sentiment and a hawkish hold from the RBNZ.
