Connect with us

Market News

New Zealand Dollar: Credit Suisse Turn Bearish

The New Zealand Dollar lost 2.78% in value to the British Pound in April, against the U.S. Dollar those losses were a more substantial 6.87%. Above: As of May 04 the NZD has lost ground against all peers on a month-on-month basis. New Zealand Dollar

Published

on

New Zealand Dollar

New Zealand Dollar

Credit Suisse say they are turning bearish on the New Zealand Dollar and other ‘commodity’ currencies as they now see limited prospects for additional monetary policy support and a deteriorating Chinese growth outlook.

“We turn bearish on AUD and NZD,” says Shahab Jalinoos, Global Head of FX Strategy at Credit Suisse in a research note out May 04.

The call by the Swiss investment bank comes in the wake of a soft April for the New Zealand Dollar which failed to benefit from a 50 basis point rate hike at the Reserve Bank of New Zealand.

April’s was the fourth interest rate rise from the RBNZ since the coronavirus crisis and comes as part of an effort by the Bank to rein in inflation by withdrawing monetary stimulus from the New Zealand economy.

New Zealand Dollar: USD

The New Zealand Dollar lost 2.78% in value to the British Pound in April, against the U.S. Dollar those losses were a more substantial 6.87%.

That the NZ Dollar is not responding to aggressive RBNZ hike expectations is instructive as to the outlook.

    Analyst Alvise Marino at Credit Suisse says the Reserve Bank of New Zealand has surprised sharply on the hawkish side of market expectations, leading rates markets to price in even more aggressive policy tightening schedules than before.

    Source From PoundSterlingLive ( Full Story )

    Keep viewing more about Market News Find out more Here: Click Here

    READ THIS POST  How Home Loan EMI Calculator Works, What You Should Know!

    Kingsley Francis is the founder and Partner at Fxkinfin Financial Advocates, owners of fxkinfin.com. He is a financial writer with extensive experience in print as well as online media.

    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Market News

    Japan to Buy Yen For The First Time Since 1998

    Japan intervened in the foreign exchange market on Thursday to buy yen for the first time since 1998. Yen to USD

    Published

    on

    Japan to buy yen

    Japan to Buy Yen

    Japan intervened in the foreign exchange market on Thursday to buy the yen for the first time since 1998, in an attempt to shore up the battered currency after the Bank of Japan stuck with ultra-low interest rates.

    The move, which occurred in late Asia hours, saw the dollar plunge more than 2% to around 140.3 yen. There were no subsequent signs of further intervention or help for the BOJ from other central banks and the dollar was last around 1.2% lower at 142.31 yen at 1421 ET/1821 GMT.

    Japan to Buy Yen

    Japanese 10,000 yen banknotes are arranged for a photograph in Kawasaki City, Kanagawa Prefecture, Japan, on Tuesday, July.9, 2013. Photographer: Akio Kon/ Bloomberg

    It had traded more than 1% higher on the BOJ’s decision to stick to its super-loose policy stance, bucking a global tide of monetary tightening by central banks fighting soaring inflation.

    “We have taken decisive action,” vice finance minister for international affairs Masato Kanda told reporters, responding in the affirmative when asked if that meant intervention.

    Analysts, however, doubted whether the move would halt the yen’s prolonged slide for long.

    The currency has depreciated nearly 20% this year, sinking to 24-year lows, largely as aggressive U.S. interest rate hikes push the dollar higher.

    READ THIS POST  Fundamental Analysis and Technical Analysis Which is Better
    Continue Reading

    Market News

    Why Jeff Currie Said, Goldman Sachs Group Inc is Currently Bullish on Commodities.

    Goldman Sachs Group Inc. Why Jeff Currie Said, Goldman Sachs Group Inc is Currently Bullish on Commodities.

    Published

    on

    Goldman Sachs Group Inc.

    Goldman Sachs Group Inc is Currently Bullish on Commodities

    According to Jeff Currie, Goldman Sachs Group Inc. is currently “extremely bullish” on commodities. Currie says that given the Fed intention to hike interest rates later in 2022, and the potential beginning of commodities supercycle that could possibly last for a decade — they’re the best place to be right now.

    Particularly oil market could tighten in the next 3-6 months as the pandemic keeps threatening demand and investment. To diversify the risks, $BTC and $ETH would definitely come in handy.

    Goldman Sachs Group Inc

    Goldman Sachs Group Inc

    Do you think Goldman Sachs Group is right in saying will are in a bullish market?

    Learn how to Trading When Market Crash CLICK HERE

    How to List NFT on Opensea

    READ THIS POST  Fundamental Analysis and Technical Analysis Which is Better
    Continue Reading

    Market News

    Will Omicron Cause Market Crash in 2022

    Will Omicron Cause Market Crash. How to avoid a market crash in 2022. The latest coronavirus variant keeps spreading around, may take some time for actual economic effects to appear in the official data. Can Omicron Cause Market Crash in 2022

    Published

    on

    Will Omicron Cause Market Crash

    Will Omicron Cause Market Crash

    The latest coronavirus variant keeps spreading around, and it will take some time for actual economic effects to appear in the official data. However, there is some info about overall tendencies across certain industries.

    Consider a mobility index constructed by The Economist, which includes visits to workplaces, retail and recreation sites, transport hubs. It’s been stable in America (though lower compared to pre-pandemic norms) and has fallen a little in Britain and Germany. According to other data from The Economist, Omicron may have led to trip cancellations and quite a few hardships for the hospitality industry.

    Can Omicron Cause Market Crash in 2022

    Will Omicron Cause Market Crash

    Will Omicron Cause Market Crash

    It shows that one way or another, people have learned to live in the pandemic space.

    As for the market, back in 2020 when the crash happened, the virus was a complete shock for the entire planet. I doubt anything alike will happen again. Preparing for the unexpected is the state we live in now, which perfectly aligns with cryptocurrency movements.

    Learn how to Trading When Market Crash CLICK HERE

    How to List NFT on Opensea

    READ THIS POST  How to Diversify Your Crypto Portfolio
    Continue Reading

    Trending