FX News

Weekly Key Points: 2021-05-28

Key Points:

  • Worldwide coronavirus cases surpass 169.610 million with over 3.524 million official deaths.
  • No change to the RBNZ review Wednesday maintaining their asset buying program of 100B, the RBNZ saying they look to hike rates in the third quarter of 2022.  
  • The New Zealand Dollar was the weakest currency into Wednesday trading turning this into the best performing currency post the RBNZ statement.
  • Iron ore prices came off recent highs as China ramps up their crack down on the commodity. On the Dalian Commodity Exchange (Chinese futures exchange) price dropped 9% last week. The Australian Dollar has struggled off the back of the move with “FE” down at 206.40 this morning.  
  • The Japanese state of emergency has been extended beyond 31 May – surely this puts the Olympic Games at risk but we suspect due to political implications it won’t be cancelled no matter what. 
Previous ArticleNext Article