The Aussie and kiwi have commenced the day as the biggest movers so far, following the release of the quarterly inflation expectations and the cash rate respectively from both countries. This and more on today’s daily Forex news and trade opportunities.
February 7, AtoZForex – Latter in the day, we also have the US and Canada trade balance figures and the New Zealand GDT price index data on the daily Forex news.
#1 RBA leaves rate unchanged
The Reserve Bank of Australia opted to leave its cash rate steady at 1.5 per cent for the fifth consecutive board meeting. This comes ahead of the central bank’s preparation to release economic forecasts depicting an economic growth picking up and inflation climbing from 1.5 per cent to more over 2 per cent.
#2 New Zealand inflation expected to pick up
According to the latest quarterly Reserve Bank Survey of Expectations, a big jump in the anticipated rate of inflation over the next two years is expected. The latest inflation expectation survey showed inflation of 1.92% in two years time, reasonably higher than the previous survey’s result and close to the RBNZ’s explicit target of 2%.
Opportunity: Sell NZDJPY
#3 Barney Frank on Trump Dodd Frank Act order: Changes needed
A few days ago, the White House’s National Economic Council Director stated that Donald Trump is intending to dismantle the Dodd-Frank act. Following this announcement, the acting US leader has signed the executive order to revise the act. The former Republican Barney Frank has contributed to the Dodd-Frank Wall Street Reform and Consumer Protection Act. In spite of providing his name to the framework, Mr. Frank states that there are some improvements that could advance the regulation.
#4 UK economy forecast to lead Europe growth in coming years
According to a new report from PwC, the UK economy is likely to surpass Germany, France and Italy in growth in the “long term”, despite a potential drag in the next few years. This view was highlighted in the report titled ”The long view: how will the global economic order change by 2050?” The report ranked 32 countries by their projected global GDP by purchasing power parity (PPP).
#5 Brexit could cause exodus of finance jobs from London to Paris
About 10,000 finance jobs could potentially move from London to Paris thanks to Brexit, with the figure rising as many as 30,000 moving if jobs indirectly related to financial services are included in the count, according to Senior lobbyists and politicians from Paris.
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