Euro Currency News Daily — EUbusiness.com
Even though the lack of change in the Fed’s dot plot was perceived to be a bit more hawkish than anticipated, a review of the economic forecasts underscores why the US Dollar isn’t producing any gains. Effective May 8, 2014, we are implementing a new added security feature for your Funds Transfer transaction to a 3rd party account. A One-Time Password (OTP) which consists of 6 alpha numeric characters will be sent via SMS to your registered mobile number to complete your transaction. Kindly ensure that your mobile number is updated with us for you to be able to perform funds transfer transaction to a 3rd party account.
Based on these factors, forex traders decide whether they think the currency will increase in value. That happens when economic growth is strong or when interest rates are rising. These traders bid the price up. Other traders read the same data but decide the value of the currencies will decline. They bid the price down. The complex interaction of these factors determines the currency’s price at any given moment.
The New Zealand Dollar has extended its impressive recovery from 2017 lows, with the currency racing up to multi-day highs earlier this week on the back of another round of disappointing US data. But it’s been a much tougher go since the Wednesday’s Fed meeting. The combination of a more hawkish Fed decision, softer Kiwi GDP and an RBNZ research paper postulating a continued decline in the neutral rate have all opened the door for some profit taking. Looking ahead, the economic calendar is quiet to close out the week, with only some US housing data and Michigan confidence standing out.