The end of the yearlong 'pause' on public sector pay, is likely to mean pay rises for millions of teachers nurses, police, and members of the armed forces.
The direction of the NZD/USD on Tuesday is likely to be determined by trader reaction to .7175.
The dollar edged higher Tuesday, rebounding from a one-month low although gains are small ahead of the release of key economic data and next week’s Federal Reserve meeting. The dollar was hit late last week following comments by Federal Reserve Chair Jerome Powell stating that it’s not yet time to begin raising U.S. interest rates. The Fed has now gone into a blackout period ahead of next week’s policy-setting meeting, an eagerly-anticipated gathering where the central bank is expected to confirm the start of the withdrawal of its bond-buying stimulus.
Moves were slight as traders eye central bank meetings in Europe, Japan and Canada this week and data releases in Australia and the United States. The risk-sensitive Australian dollar rose about 0.3% and poked past 75 U.S. cents to $0.7513, China's yuan was firm near a four-month high at 6.3845 per dollar and the South Korean won hit a seven-week peak. "The dollar has been reversing lower because of a more risk- on market, and that's due to earnings coming in better than expected," said Bank of Singapore analyst Moh Siong Sim, while investors await data and central bank meetings for direction.
How a post-pandemic budget will balance cutting national debt with key spending allocations.
The UK housing market is on track to record its strongest year since 2007.
By Gina Lee
It’s a particularly quiet day ahead on the economic calendar. U.S consumer confidence figures will draw plenty of interest later in the day, however.
The Canadian dollar weakened against its U.S. counterpart on Monday, as oil gave back its earlier gains and investors weighed the potential for the Bank of Canada to push back against recent moves by the market to price in multiple rate hikes next year. Bank of Canada Governor Tiff Macklem "may want to hold off on rate-hike signaling and depress aggressive market-pricing for BoC tightening that has supported the CAD of late," the strategists added. The price of oil, one of Canada's major exports, touched a seven-year high before settling unchanged at $83.76 a barrel.
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"Price signals are warning that the CAD's rally is perhaps stalling and might reverse modestly," strategists at Scotiabank, including Shaun Osborne, said in a note. Bank of Canada Governor Tiff Macklem "may want to hold off on rate-hike signaling and depress aggressive market-pricing for BoC tightening that has supported the CAD of late," the strategists added. The price of oil , one of Canada's major exports, touched a seven-year high before settling unchanged at $83.76 a barrel.
USD/CAD is testing the resistance at 1.2380.
Banking bosses have said that cooperation between governments should be paramount in a post-Brexit world when looking to the future of finance.
* Loonie trades in a range of 1.2339 to 1.2388 * Speculators cut bearish bets on the currency * Price of U.S. oil rises 1.7% * Canadian bond yields little changed across the curve TORONTO, Oct 25 (Reuters) - The Canadian dollar barely moved against its U.S. counterpart on Monday as data showed that speculators have cut bearish bets on the currency to the lowest in five weeks and ahead of a Bank of Canada interest rate decision later this week. The Canadian dollar was trading nearly unchanged at 1.2369 to the U.S. dollar, or 80.85 U.S. cents, after trading in a range of 1.2339 to 1.2388. Last Thursday, the currency touched its strongest level in nearly four months at 1.2287.
The British pound initially tried to rally during the trading session on Monday but gave back gains to show less than impressive trading action.
Revenue at the file-sharing platform rose 26% to €65m (£55m, $75m) last year, while increasing by 64% to €45m in the first half of 2021, it said on Monday.
The Euro has initially tried to rally during the trading session on Monday, but then slammed into the 1.16 level.
The Australian dollar has initially tried to rally during the trading session on Monday but continue to see problems and the 0.75 handle.
Ahead of the announcement on Wednesday, a raft of economic policies have already been drip fed out through the Treasury, with plans ranging from tax reform to billions in spending.
The direction of the EUR/USD into the close on Monday is likely to be determined by trader reaction to 1.1597.
“In our view, the rally in CAD is looking quite tired, and we expect to see more support in USD/CAD around the 1.2300 level. Most of the positives (BoC tightening, solid economic recovery, higher energy prices) appear in the price and our short-term fair value model currently shows a 1.5% undervaluation in USD/CAD,” noted Francesco Pesole, FX Strategist at ING.
Rising yields and record highs in the S&P 500 and Nasdaq failed to lift the dollar. Indeed, the greenback fell against all the major currencies, even the Japanese yen, against which it had reached new four-year highs (~JPY114.70) before pulling back.
Fall is the time of the year to announce the recipient of this year’s “Globie”, i.e., the Globalization Book of the Year. The prize is strictly honorific and does not come with a check.
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Fundamental and technical analysis of the USD/ZAR currency pair with future price outlook.