Loonie And Kiwi Remain Under Pressure

By JustForexCurrenciesSep 28, 2017 09:36AM ET

www.investing.com/analysis/loonie-and-kiwi-remain-under-pressure-200215912

Loonie And Kiwi Remain Under Pressure

By JustForex | Sep 28, 2017 09:36AM ET

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During yesterday's trading, Canadian and New Zealand dollars weakened sharply against the US currency. The Reserve Bank of New Zealand, as expected, left the key interest rate at the previous level of 1.75%. The regulator plans to adhere to the current rate of the monetary policy. The central bank also said that the depreciation of the New Zealand dollar will contribute to stable economic growth. The head of the Bank of Canada, Stephen Poloz, said that the regulator will not hurry up with a further increase in the interest rate. The Central Bank is concerned about the significant strengthening of the Canadian dollar since the beginning of this year. During this period the USD/CAD quotes fell by more than 7%.

Some Fed's representatives believe that current interest rates are appropriate in conditions of weak inflation. The US continues to publish mixed economic reports. In August, the volume of orders for durable goods increased by 1.7%. Market expectations were at 1.0%. At the same time, the index of pending sales in the real estate market fell by 2.6%.

Prices for "black gold" continue to consolidate. At the moment, futures for the WTI crude oil are traded near $52.5 per barrel.

Market Indicators

Yesterday the bullish sentiment prevailed on the US stock market. The main indices closed in the positive zone: SPDR S&P 500 (NYSE:SPY) (0.39%), SPDR Dow Jones Industrial Average (NYSE:DIA) (0.19%), PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) (0.90%).

The 10-year US government bonds yield has grown significantly. At the moment the indicator is at the level of 2.35%.

The dollar index (#DX) closed the trading session in the positive zone (+0.42%).

We recommend you to pay attention to economic reports from the USA:

- The GDP data at 15:30 (GMT+3:00);
- The balance of foreign trade in goods at 15:30 (GMT+3:00);
- The number of initial applications for unemployment benefits at 15:30 (GMT+3:00).

At 11:15 (GMT+3:00) the head of the Bank of England Carney will hold a press conference. The FOMC representative George and Fisher will give speeches at 16:45 (GMT+3:00) and 17:15 (GMT+3:00) respectively.

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.65%

Apr 17, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	42,768.5	+189.7	+0.45%
US 500	5,764.8	+26.3	+0.46%
Dow Jones	42,801.72	+222.64	+0.52%
S&P 500	5,770.20	+31.68	+0.55%
Nasdaq	18,196.22	+126.97	+0.70%
S&P 500 VIX	23.37	-1.50	-6.03%
Dollar Index	103.81	-0.22	-0.21%

Crude Oil WTI	67.04	+0.68	+1.02%
Brent Oil	70.36	+0.90	+1.30%
Natural Gas	4.399	+0.097	+2.32%
Gold	2,914.10	-12.50	-0.43%
Silver	32.809	-0.529	-1.59%
Copper	4.7100	-0.0975	-2.08%
US Soybeans	1,025.00	-2.25	-0.22%

U.S. 10Y	4.304	+0.025	+0.70%
U.S. 30Y	4.601	+0.022	+0.44%
U.S. 5Y	4.083	+0.025	+0.74%
U.S. 3M	4.303	+0.002	+0.00%
US 10Y T-Note	110.55	-0.23	-0.21%
Euro Bund	127.66	-0.81	-0.63%
10-2 Yield Spread	31.32	+4.15	+15.27%

Apple	239.07	+3.74	+1.59%
NVIDIA	112.69	+2.12	+1.92%
Alphabet A	173.86	+1.51	+0.88%
Tesla	262.67	-0.78	-0.30%
Amazon.com	199.25	-1.45	-0.72%
Netflix	891.11	-15.25	-1.68%
Meta Platforms	625.66	-2.27	-0.36%

Loonie And Kiwi Remain Under Pressure

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