Dollar Up on Positive Data, Eyes on RBNZ Policy Review
Updated 10:04AM 07/02/2020
JPY and GBP are the top G10 FX gainers today, up 0.04% and -0.04% vs the dollar while AUD and NZD are the top losers, down -0.49% and -0.45% vs the dollar.
The euro dipped lower reaching lowest levels since October after industrial output (Germany) fell sharply, its biggest dip in over a decade. Good job numbers in the U.S. also helped investors to bid the dollar. The dollar remained strong amid positive domestic data and weak risk sentiments, as the economic fallout from coronavirus in China continues to worry investors. Elsewhere, RBNZ is likely to hold rates at 1.0% at its policy meeting next week despite risks from the virus epidemic in China. That said, the possibility of another rate cut this year can't be ruled out.
In the Asian equities space, the Nikkei 225 closed -0.19% lower at 23,827.98, Hang Seng closed -0.33% at 27404.27 and Kospi ended -0.72% at 2211.95. The European equities were trading mixed with the FTSE -0.19% at 7490.46, DAX -0.27% at 13538.05, and CAC 0.11% at 6044.67. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.6144% and the Bund 10-year yield trading at -0.384%. In the energy space, the Brent (front month) is trading up (0.11%) for the day at $54.99.
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