NZD Bows to US Dollars While Traders Anticipates FOMC.


Asia-Pacific markets experienced mixed feelings after US stocks fell during regular trading hours. However, earlier today, buoyant earnings from Microsoft and Alphabet Inc lifted US stock futures.

The Federal Reserve is expected to deliver a 75-basis-point rate hike at Wednesday’s FOMC meeting. Mr. Powell’s comments might see the USD gain further.

Australia’s second-quarter inflation data is increasing and was seen at 6.2% today. That would be up from 5.1%. while the Australian Dollar fell against the US Dollar it rose against the New Zealand Dollar overnight, suggesting underlying strength in the AUD.

According to CCTV, China’s Covid cases climbed on Monday, increasing from Sunday’s 680 to 868. Officials in Shenzhen ordered new restrictions, telling companies to limit workers to those who do not have much contact with the general public.

Those companies include Foxconn, a major iPhone manufacturer. It is expected that China’s industrial profits data for June will be out at 01:30 GMT.

Natural gas prices in Europe and the US are on the rise. The EU price climbed up after Gazprom reduced flows from the Nord Stream 1 Pipeline despite EU countries agreeing to scale back demand by 15%. While the US prices are up as weather forecast for the continental United States sees seasonally increased.

You might also like: The USD finds grip ahead of Fed’s decision.

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