FX News

Key Points This Week

FX Update

Key Points:

  • The Reserve Bank of New Zealand holds interest rates at 5.50%
  • Japanese “core-core” inflation – (excluding food and energy) rises to 4.3%
  • Gold has fallen to the lowest level since March- 1980 per ounce.
  • Chinese Industrial production released down on expectations in the second quarter, with domestic indicators like real estate and demand for exports also taking hits.
  • The US 30-year bond traded to 4.42% overnight breaking above last year’s high and matching 2011 levels. This is starting to weigh on equity markets with US indices all coming off recent highs.
  • The British Pound (GBP) has been the strongest currency this week with the Australian Dollar (AUD) the worst performer.
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