Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD

Kiwi jumps more than 1% after RBNZ surprise decision

Economies.com
2019-11-13 17:49PM UTC

The New Zealand dollar rose against its US counterpart today, following the unexpected decision by the RBNZ to keep the interest rate.

 

The Reserve Bank of New Zealand (RBNZ) kept the interest rate at 1.00% unchanged, beating forecasts of a cut by 25 basis point to 0.75%. 

 

The RBNZ noted that accommodative monetary policy should be maintained until the the world economic arena becomes more clear, especially regarding the US-China trade war.

 

President Donald Trump said yesterday that since China’s entrance into the World Trade Organization in 2001, it has manipulated the United States.

 

Trump blamed the former US presidents for allowing and tolerating the Chinese unfair trade practices, however, he said that he expects signing the first phase of the final trade agreement with China very soon.

 

Back to trading, NZD/USD rose by 1.2% to 0.6408 as of 17:47 GMT, with an intraday high of 0.6417 and a low of 0.6328.

Nasdaq gives up record highs ahead of Powell congressional testimony

Economies.com
2019-11-13 15:21PM UTC

The major US stocks indices fell today, amid anticipation for the Federal Reserve Chairman Jerome Powell's testimony before the US Congress on monetary policy, following the Fed's decision to cut the interest rates for the third time this year during its October's meeting.

 

The markets have digested President Trump's remarks of yesterday, in which he criticized and accused China for cheating in its trade practices with the US.

 

Trump also blamed the previous US leaders for allowing China to manipulate the trade agreements and tolerated such unfair practices that have hurt the economy and the American workers.

 

The US economy showed today that the consumer price index (CPI) rose by 0.4% in October, the largest increase in 7 months.

 

As for trading trading, Dow fell by 0.1% or 43 points to 27,647, Nasdaq lost 0.1% or 14 points to 8,471, and S&P 500 fell by 0.1% or 3 points to 3,088.

Palladium tilts higher, but remains below $1,700 mark

Economies.com
2019-11-13 14:42PM UTC

Palladium prices edged up on Wednesday, taking a brief breather after the recent record highs.

 

Palladium prices slowed and held below the $1,700 threshold, as demand on industrial metals fell due to concerns and uncertainty over the US-China trade talks.

 

Yesterday, President Donald Trump said that China cheated in the trade relations with the US, and blame the former US presidents for allowing and tolerating that.

 

Bearing in mind that the tensions in trade relations between the world's two largest economies have a negative impact on industrial demand, including Palladium, which is used in the manufacturing of car components that reduce exhaust emissions.

 

As for trading, palladium futures spot prices rose by 0.4% to $1,676.4 an ounce as of 14:30 GMT, and hit a session high of $1,638.2 and a low of $1,631.2.

US consumer price posts largest increase in 7 months

Economies.com
2019-11-13 14:06PM UTC

The US consumer price index (a key gauge of the overall inflation) rose in October, and posted the largest increase in 7 months, as the energy prices rose alongside healthcare and food.

 

According to the US Bureau of Labor Statistics official data released today, the CPI rose by 0.4% in October, due to higher fuel prices, higher than forecasts of 0.3%.

 

The consumer price index also rose in the 12 months until October by 1.8% vs. 1.7% in September's reading.

 

The core CPI reading (excluding the volatile energy and food prices) also rose by 0.2% last month.

Frequently asked questions

What is the price of NZD/USD today?

The price of NZD/USD is $0.5947 (2025-07-15 19:25PM UTC)