LONDON, May 3 — Gold jumped to two-week highs above US$1,480 an ounce today, heading for its second straight weekly gain, as the dollar fell ahead of US nonfarm payrolls report, scheduled for 1230 GMT.
The New Zealand dollar rose against the greenback after a measure of US manufacturing printed weaker than expected and as traders await the Reserve Bank of Australia’s policy review, which may retain scope to cut interest rates.The…
The Australian Dollar fell briefly then rallied as the Reserve Bank said there were signs that the economy was responding to the low interest rates.
The Bank of Japan held interest rates at 0.1 per cent and addressed monetary policy as the price target is sought as soon as possible.
The printing of more paper money usually has the effect of debasing or diluting the strength of that particular currency.
Treasury benchmark rates trade in a global marketplace and that has become evident in recent years and again this past week. Within the U.S
Currency Strategist Michael Bouts offers current setups across the majors as the ECB and BoE hold on interest rates. Dollar weakness is expected to prevail as risk presses fresh January highs.
The US Dollar has strengthened versus the Japanese Yen, but the USDJPY’s strong link to interest rates suggests that further rallies will need a turn in US Treasury yields
EUROPEAN SESSION UPDATE: Negative growth pressures ECB to cut interest rates; Euro unchanged at 1.3080…
The New Zealand Dollar may rise as the RBNZ opts to keep interest rates on hold despite a string of weaker economic data as inflation expectations hold on-target.
GBPJPY currency pair closes the week with strong upward momentum at USD 129.092.
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