It was a slightly negative day on the market as some profit taking came into effect following the last 3 days of rallies, global equities closed down slightly as US indices as well as European indices came down to previous support levels.
Gold and Silver both rallied well yesterday as we saw Gold trade above $1900 for the first time since January this year, Silver also rallied well as it got over $27.70 to close the day out around the $28 mark. Brent consolidated throughout the day but failed to trade above $68.70 for the day.
Crypto currencies continue their recovery as we saw Bitcoin and Ethereum push higher during the Asian session as they traded at $40 700 and $2880 respectively prior to the European open.
Following this morning’s Monetary Policy Statements from the Bank of New Zealand the New Zealand Dollar strengthened significantly as they decided to keep monetary stimulus unchanged until their inflation and employment targets are met. There was more AUD and CAD strength that came into the market prior to the European Open while there is some weakness in the JPY and EURO.
4:00am - RBNZ Monetary Policy Statement (NZD)
- RBNZ Rate Statement (NZD)
- Official Cash Rate (NZD)
5:00am - RBNZ Press Conference (NZD)
4:30pm - Crude Oil Inventories (USD)