The kiwi has dropped against the greenback amid broad US dollar strength and the mixed NZ data ahead of China’s headline inflation figures, namely the Consumer Price Index (CPI) and the Producer Price Index (PPI) for May. New Zealand’s Q1 Manufacturing Sales eased from 0.5% to 0.4% but the Manufacturing Activity rose 2.1% versus -0.2% [...]
The reading of Japan’s Q1 GDP recovered from 1.3% forecast to 1.0% QoQ, as well as -3.9% compared to -5.1% as per annual report. It has to be noted that the sign of economy recovery despite the coronavirus (COVID-19)-led emergencies in major prefectures, favor the Japanese yen (JPY). Separate figures portrayed that the wages rose [...]
As per the Australian National report, Gross Domestic Product (GDP) of Australia has rose 1.8% this quarter which reflected the continued easing of COVID-19 restrictions and the recovery in the labor market. The level of economic activity is 0.8% above December quarter 2019 pre-pandemic levels and has grown 1.1% in through the year terms. Also [...]
Fundamental view: Bitcoin price is currently witnessing massive selling pressure. Tesla CEO Elon Musk's involvement in Bitcoin has been an interesting development to track. His tweets on May 12 and May 19 worked as an important catalyst in accelerating the BTC price crash. Regardless of this week being the state-owned Xinhua News Agency and China Central Television mentioned that the [...]
