Free Trial

Despite paring some of the losses.............>

FOREX
FOREX: Despite paring some of the losses registered in reaction to the downbeat
NZ labour market report, NZD has remained comfortably the worst G10 performer.
Although the headline unemployment rate fell to 4.2% from 4.3%, this was due to
a decline in participation rate, as employment change moved into negative
territory on a Q/Q basis. Wage data also provided disappointment, save average
hourly earnings, adding to the generally pessimistic picture.
- Sterling ticked higher vs. its G10 peers, extending yesterday's gains
registered on fresh optimism re: the ongoing cross-party Brexit talks.
- Elsewhere, price action has been relatively subdued, with Japan, China, Hong
Kong, Singapore and South Korea off for holidays.
- Focus today turns to the U.S. FOMC MonPol decision, as well as the
accompanying presser with Fed Chair Powell. ECB's de Guindos, as well as BoC's
Poloz & Wilkins are due to speak, with U.S., UK & Canadian m'fing PMI, as well
as U.S. m'fing ISM also due. Worth noting May Day holidays across mainland
Europe will keep many markets closed.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.