EUR/USD weaker, challenging lows near 1.1550

The European currency remains under pressure on Thursday. Spot trades in session lows in the mid-1.1500s on stronger buck. Eurogroup meeting will take centre stage in Euroland today. The single currency is extending the downbeat momentum and is now dragging EUR/USD to the area of


EU’s Malmstrom: US metal tariffs are seen as illegal

The European Union (EU) Trade Commissioner Cecilia Malmstrom is on the wires now, via Reuters, condemning the US metal tariffs. Key Headlines: No choice but to respond to US tariffs. US metal tariffs are seen as illegal. US tariffs are not in compliance with WTO rules.


RBNZ likely to leave the OCR at 1.75% – ANZ

The RBNZ will leave the OCR at 1.75%, as universally expected, at the June OCR announcement next Thursday, according to Liz Kendall, Senior Economist at ANZ.  Key Quotes “A clear, consistent message will be retained: the RBNZ will remain cautious until inflation shows consistent signs

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Fed: Powell advocates for a gradual pace of rate hikes – TDS

Analysts at TDS note that Fed Chairman Powell’s appearance on the Sintra policy panel was used to advocate for a gradual pace of rate hikes. Key Quotes “Powell noted strong labor market conditions and downplayed labor market tightness, pointing to relatively modest wage growth.” “Meanwhile,


NZ: Economy has lost some of its momentum – Westpac

Today’s figures reinforced that the New Zealand economy has lost some of its momentum in recent times as GDP rose by 0.5% in the March quarter, following gains of 0.6% in each of the previous two quarters, explains Michael Gordon, Senior Economist at Westpac. Key


NZ GDP: Cooling gradually – ANZ

The NZ economy expanded by 0.5% q/q in Q1, in line with consensus expectations and is a more modest pace of growth than the 0.6% pace recorded in Q4 and the strong rates of growth seen since 2014 (0.9% q/q on average), according to Liz


NZ GDP: Pausing at trend growth – TDS

New Zealand’s March quarter GDP rose by +0.5%/qtr, matching median expectations, to expand by 2.7%/y, notes Annette Beacher, Chief Asia-Pacific Macro Strategist at TDS. Key Quotes “The OIS strip remains flat at 1.75% throughout H2 this year, lifting to 24% priced for +25bp by end-Q1.”


EUR/USD headed back to 1.1535/30 amid notable USD demand

Renewed USD strength and risk-on fuels the Asian decline. Bears look to re-test the 1.1535/30 support zone ahead of the US data. Having consolidated briefly around the 1.1575 region in early Asia, the EUR/USD pair came under fresh selling pressure, as the US dollar recovery