FXStreet (Córdoba) – The UBS analyst team commented that regardless macroeconomic events, the EUR/USD remain in a tight range.
“EUR/USD ended the day without big moves even though the German ifo survey gave a strong positive impulse with a rise of the expected business conditions”.
“ECB Draghi on the other hand was quite dovish, explaining that the ECB will react to a too strong euro with interest rate cuts, maybe even negative interest rates. Quant easing would be the response to falling long-term inflation expectations”.
FXStreet (Córdoba) – The NZD/USD failed to hold to gains and weakened sharply on European hours, falling to 0.8545, the lowest price since April 4. The Kiwi soared across the board after the RBNZ announced an expected rate hike of the official cash rate to 3% and also increased growth expectations.
NZD from best to worst
During the Asian session the pair peaked at 0.8636, 1-week high, then moved slightly to the downside, but accelerated sharply on European hours after pulling back below 0.8620. After bottoming at 0.8545 price bounced slightly to the upside and in the last hour it has been moving in a range between 0.8550 and 0.8570.
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