Makro Haberleri

The NZD/USD pair gathers strength to around 0.5905 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) on hotter-than-expected domestic inflation data.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding ground after registering modest gains in the previous day and trading around 98.40 during the Asian hours on Wednesday.

BNY’s Bob Savage notes that New Zealand’s Consumer Price Index (CPI) accelerated to 0.9% q/q, keeping annual inflation at 3.1%, with strong non-tradeable components such as electricity and local authority rates.

Brown Brothers Harriman’s (BBH) Elias Haddad reports that NZD is outperforming after hotter-than-expected Q1 Consumer Price Index (CPI), with headline inflation at 3.1% y/y versus the RBNZ’s 2.8% projection.

Danske Research Team notes that Canadian headline inflation rose to 2.4% year-on-year in March, slightly below expectations, while core measures stayed stable.

The Euro (EUR) posts moderate losses against the US Dollar (USD), trading at 1.1765 ahead of Tuesday's US session opening, after being capped at the 1.1790 area on Monday.

The Pound Sterling (GBP) demonstrates a mixed performance against its major currency peers during the late European trading session on Tuesday.

Danske Research Team reports that Reuters sources suggest the Bank of Japan (BoJ) is likely to hold off raising interest rates at the April meeting due to uncertainty from the Iran war.

The US Dollar (USD) shows marginal gains against the Canadian Dollar (CAD) on Tuesday, trimming losses after a six-day selloff. The USD/CAD pair has reached session highs right above 1.3660 but remains relatively close to the five-week lows of 1.3635 set the previous day.