Feb 10, 2021 02:47 GMTFXStreet News
NZD/USD sellers attack intraday low, defy previous three-day uptrend after China data.
China’s CPI, PPI dropped below forecasts on YoY during January.
RBNZ’s Orr said covid risks still around, concerned about housing market.
The market mood stays cautiously optimistic ahead of US inflation data, stimulus.
NZD/USD justifies weakness in China’s inflation figures while extending the initial losses following comments from Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr during the early Wednesday. In doing so, the kiwi pair holds lower ground near the day’s low of 0.7220 while snapping the three-day rise.
Feb 10, 2021 03:23 GMTFXStreet News
S&P 500 Futures defy the previous day’s halt to the upside momentum while refreshing record top.
Mixed catalysts trouble the bulls cheering vaccine, stimulus hopes.
China’s inflation joined other leading indicators suggesting the dragon nation is losing off-covid recovery.
S&P 500 Futures take the bids near 3,920, the record top, during early Wednesday. The risk barometer struggled the previous day as fears of relation challenged upbeat sentiment. However, downbeat inflation data from China and mixed US readings keep directing the market optimists towards cheering more stimulus and covid vaccines.
With the latest comments from Bank of Japan (BOJ) monetary policy board member Seiji Nakamura suggesting prolonged easy money policies from the Japanese central banker, global market players keep their stimulus hopes on the table. Also favoring the mood could be China’s downbeat Consumer Price Index (CPI) and Producer Price Index (PPI) for Ja