The USD is Falling in Asian Trade: Market Movers
Rowan Crosby • 1 min read
Just a quick look around at some of the key moves on the back of the FOMC remaining dovish.
GOLD is pressing higher today and is spiking towards the key 1400 level. It looks like the gold bugs are in full bull mode which is interesting given the dovish outlook we’ve heard. But uncertainty remains high.
The NZD/USD jumped earlier today thanks to a better than anticipated GDP print out of NZ. That has been helped by a weak USD.
The AUD/USD awaits Governor Lowe today, but is higher and into the 0.6900 level once again.
The USD/JPY is tumbling and the JPY remains bid up. The BOJ is ahead but it won’t likely matter that much today.
Clearly the weak Greenback and strong gold are the major themes of the Asian session so far. It will be interesting to see if the selling continues into the US session. The dollar index has slipped below 97.00 which is a big drop.