Day: June 8, 2016

June 8
2016

New Zealand Dollar Soars After RBNZ Keeps Rates on Hold

The New Zealand dollar climbed after the Reserve Bank of New Zealand left the Official Cash Rate unchanged. The fact that the central bank talked about the possibility of a rate cut in the future did not deter the currency’s rally. The RBNZ provided no surprise, keeping its benchmark interest rate at 2.25%. The central bank talked about risk and uncertainties, both international (like global growth and commodity prices) and domestic (like inflation). […]

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June 8
2016

Swiss Inflation Misses Expectations, Franc Unfazed

Switzerland’s inflation missed economists’ forecasts, yet this did not prevent the Swiss franc from extending its rally against other majors, including the US dollar and the euro. The Swiss Consumer Price Index rose 0.1% in May from the previous month. That is compared to the average forecast of 0.2% and the April’s 0.3% increase. The underwhelming data did not prevent the Swissie from rising for the third consecutive day against the euro […]

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June 8
2016

Yen Climbs as Japan’s GDP Finalized in Positive Territory

The Japanese yen climbed today after the final revision of Japan’s gross domestic product confirmed growth of the nation’s economy. First quarter’s GDP rose 0.5% in the first quarter of this year according to the revised estimate, a bit more than the preliminary 0.4%, after falling 0.3% in the fourth quarter of 2015. Meanwhile, the current account surplus shrank from ‎¥1.89 trillion in March to â€Ž¥1.63 trillion in April. Apparently, markets paid no heed […]

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