It seems to be a kiwi and aussie day
AUD/USD is circa 0.7685 as I post, to a new high for the session. (I posted earlier that:
- AUD/USD had been hanging in there quite well given the AUD/NZD selling flows since the more hawkish (by just a bit) RBNZ announcement and presser earlier. AUD/USD now to a fresh session low but the range has been small indeed.
Following the China PPI upside surprise (much above expected), which is a positive for China producers and for commodity producers (hello Australia) the Australian dollar has gained.
NZD ... its been all about the RBNZ earlier today ... ICYMI, see here:
- RBNZ responses: "opened the door the tiniest crack in the direction of earlier OCR hikes"
- RBNZ responses: "NZD assumed to stay down"
- RBNZ responses coming in ... "no longer talking down the currency"
- More from RBNZ's Spencer - says NZD is in vicinity of fair value
- NZD adding a bit as the RBNZ press conference continues
- RBNZ's Spencer says economic outlook is very positive
- RBNZ holds rates at 1.75%, as expected
- Full statement from the RBNZ November 2017 policy meeting
Yen has weakened, some poor data earlier slowly impacting and the huge US Pacific Fleet exercise planned to begin over the weekend having little impact.
ps. I posted after the RBA on Tuesday that there is plenty of work to be done between 0.77 and 0.7730 ... this remains the case, K?
