Daily Morning Report 22/04/2015
The New Zealand dollar edged higher against its U.S. counterpart today, as growing uncertainty over the timing of a U.S. rate hike continued to weigh on demand for the greenback.
Elsewhere, sentiment on the greenback remained vulnerable as investors pushed back expectations for higher U.S. interest rates after a recent string of soft economic data dampened optimism on the country’s recovery.
Also today, the Australian Bureau of Statistics said that consumer prices rose 0.2% in the first quarter, in line with expectations, and after a 0.2% uptick in the three months to December. Year-on-year, Australian consumer prices rose 1.3% in the three months to March, in line with market expectations and after an increase of 1.7% in the last quarter of 2014. A separate report showed that Australia’s trimmed mean consumer price index, which excludes the most volatile 30% of items, rose at an annualized rate of 2.3% in the first quarter, exceeding expectations for a 2.2% increase.
Later in the day, the U.S. was to release data on existing home sales.