Talking Points:New Zealand Dollar O

Talking Points:

New Zealand Dollar Outperforms as G10 FX Pre-Positioning for FOMC Continues
US Dollar May Not Find Fuel in Inflation Data Supporting Status-Quo Fed Bets
UK CPI May Offer Little to Near-Term BOE Outlook, Passing with Little Fanfare
The New Zealand Dollars outperformed as the G10 currencies stage a broad-based advance against the US Dollar. The move is playing out against a backdrop of falling US Treasury bond yields, hinting that continued pre-positioning ahead of this week’s FOMC policy announcement is the driver behind price action.

Within this context, a shift toward neutral on speculative positioning in the face of looming event risk may be the theme du jour. Indeed, the CFTC’s latest Commitment of Traders report showed investors’ net long USD exposure hit a three-month high last week.

Looking ahead, November’s US CPI data is in focus. The core year-on-year inflation rate is expected to rise to 2 percent, the highest since May 2014. The pickup would support the Fed’s predilection for the start of stimulus withdrawal, suggesting the trend in price growth is poised to return toward the central bank’s target once last year’s rapid slump in oil prices rebases out of year-on-year calculations.

The markets are already pricing in an 83 percent probability of a 25bps rate hike however, meaning an upbeat print is unlikely to generate a big-splash response. A downside surprise would clash with the established outlook and may feed liquidation of long-USD exposure.

UK CPI figures are likewise on tap. Consensus forecasts put the core year-on-year price growth rate at a four-month high of 1.2 percent. While certainly an improvement, an outcome within the vicinity of expectations would only underscore the long way that inflation has to go to come within striking distance of the BOE’s target. That means it probably won’t meaningfully accelerate the projected timeline for a rate hike and thereby offer little by way of direction cues to the British Pound.

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Kết quả (Anh) 1:

Talking Points:New Zealand Dollar Outperforms as G10 FX Pre-Positioning for the FOMC ContinuesUS Dollar May Not Find Fuel in Inflation Data Supporting Status-Quo Fed BetsUK CPI May Offer Little to Near-Term Outlook, BOE Passing with Little FanfareThe New Zealand Dollars outperformed as the G10 currencies stage a broad-based advance against the US Dollar. The move is playing out against a backdrop of falling U.S. Treasury bond yields, hinting that continued pre-positioning ahead of this week's FOMC policy announcement is the driver behind the price action.Within this context, a shift toward neutral on speculative positioning in the face of looming event risk may be the theme du jour. Indeed, the CFTC's latest Commitment of Traders report showed investors ' net long USD exposure hit a three-month high last week.Looking ahead, November's US CPI data is in focus. The core year-on-year inflation rate is expected to rise to 2 percent, the highest since May 2014. The pickup would support the Fed's predilection for the start of stimulus withdrawal, suggesting the trend in price growth is poised to return toward the central bank's target once last year's rapid slump in oil prices rebases out of year-on-year calculations.The markets are already pricing in an 83 percent probability of a 25bps rate hike however, meaning an upbeat print is unlikely to generate a big-splash response. A downside surprise would clash with the established outlook and may feed liquidation of long-USD exposure.UK CPI figures are likewise on tap. Consensus forecasts put the core year-on-year price growth rate at a four-month high of 1.2 percent. While certainly an improvement, an outcome within the vicinity of expectations would only underscore the long way that inflation has to go to come within striking distance of the BOE’s target. That means it probably won’t meaningfully accelerate the projected timeline for a rate hike and thereby offer little by way of direction cues to the British Pound.New to FX? START HERE!

Kết quả (Anh) 2:

Talking Points: New Zealand Dollar outperforms as G10 FX Pre-Positioning for the FOMC Continues US Dollar May Not Find Fuel Inflation Data Printing Status-Quo Supporting Fed Bets UK CPI May Offer Little to Near-Term Outlook BOE, with Little Fanfare Passing The New Zealand Dollars outperformed as the G10 Currencies stage a broad-based advance Against the US Dollar. The move is playing out Against a backdrop of falling US Treasury bond yields, hinting mà continued pre-positioning ahead of this week's FOMC policy announcement is the driver behind the price action. Within this context, a shift Toward neutral on speculative positioning in the face of looming event risk lẽ the theme du jour. Indeed, the CFTC Commitment of Traders report's Latest showed Investors' net long USD exposure hit a three-month high last week. Looking ahead, November's US CPI data is in focus. The year-on-year core rate Inflation is expected to rise to 2 percent, since May 2014 the Highest The pickup would support the Fed's predilection for the start of stimulus withdrawal, suggesting the trend is poised to print Price Growth Toward the central return bank's target once last year's rapid slump print oil prices rebases out of year-on-year calculations. The Markets are already pricing in an 83 percent probability of a 25bps rate hike Tuy nhiên, nghĩa an upbeat print is unlikely to generate a big-splash response . A downside surprise would clash with the established outlook and unfortunately liquidation of long-dollar feed exposure. UK CPI figures are likewise on tap. Consensus Forecasts put the year-on-year core price rate at a four-Growth month high of 1.2 percent. While certainly an improvement, an outcome trong vicinity of expectations would only underscore the long way to go to mà Inflation has come trong striking distance of the BOE's target. That means again it will not meaningfully lẽ Accelerate the projected timeline for a rate hike and thereby offer little by way of direction cues to the British Pound. New to FX? START HERE!