4 Global Market Updates- 13 September, 2022

 

In this article, we have covered the highlights of global market news about the NZD/USD, GBP/USD, USD/CHF and the EUR/USD.

NZD/USD: Technical bounce off 0.60 appears more safe currently – ANZ

NZD/USD is maintaining its mid-0.61 range. According to experts at ANZ Bank, today’s US CPI data and tomorrow’s or Thursday’s NZ data will be key.

“The US Dollar Index has decreased for three straight days and is now 2.2% below 20-year highs reached last week. This correction has occurred at the same time as bond rates have recovered ahead of the US CPI and that market expectations have increased for the Fed Funds rate to reach its cycle-high of 4%. The move seems a little strange from that (USD-centric) angle, but the EUR’s recovery on reports that Ukraine had reclaimed ground and the ECB’s hawkishness are what are now driving the foreign exchange markets. Due to its complexity and potential for volatility, we are cautious.

This week’s NZ C/A and GDP statistics should bring local issues back into prominence for the NZD.  Technical bounce off 0.60 now seems to be more solid.

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