empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

02.05.201910:59 Forex Analysis & Reviews: While investors listened to the speech of the Fed chairman, the Kiwi is the only one who does not stand still.

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 02.05.2019 analysis

Holiday - not a reason to rest. There is always movement in the foreign exchange market, however,most currency pairs are traded in narrow ranges this time. Nevertheless, there are exceptions. The New Zealand dollar could not bear the weak data on the number of jobs, which increased the likelihood of lowering the interest rates. Otherwise, the rest of investors around the world listened to the predictable speeches of Fed Chairman, Jerome Powell, at the end of a two-day meeting.

The Fed meeting took place after the publication of very strong data on the US economy, as a result of which, the dollar exchange rate updated the two-year maximum. Thus, the Fed has justified the expectations of the market in relation to its position, but even in this case, the dollar is probably waiting for another price increase. While this did not happen, the euro, taking advantage of the lull, is rebuilding its position against the American, reaching a mark of 1.1224 dollars. Strong data on economic growth in the eurozone is pushing the single currency upwards.

Exchange Rates 02.05.2019 analysis

Against the background of a general lull, the New Zealand dollar stood out, which fell immediately by half a percentage point after the government data showed that the level of employment decline unexpectedly. Even though the unemployment rate fell to 4.2 percent, the market perceived this as a decrease in the chances of an increase in interest rates by the Reserve Bank of New Zealand, which had previously stated that the next step was likely to be a decrease. Meanwhile, the RBNZ will hold a meeting next week. It seems that the regulator will overtake other central banks of the G10 countries in the transition to an easier monetary policy, and this adjustment will continue to keep the Kiwis under pressure in the short term.

Exchange Rates 02.05.2019 analysis

Irina Maksimova
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off