FXstreet.com (Barcelona) - The euro has pushed through the 1.2500 level on Tuesday on limited news and data flow, though a series of upcoming meetings between Eurozone policymakers has left investors unwilling to be caught short in case of any major policy developments.
In other news, Reuters reported that while ECB President Draghi will not be part of the Jackson Hole conference due to heavy work pressure, Bundesbank President Weidmann still intends to attend however. Falling commodity prices were a key talking point during the Asia session. According to Research Analyst Chris Walker at UBS, “The New Zealand dollar fell on news that dairy-farmer incomes next season would likely be lower than had been previously indicated. What's more, a strong currency was blamed as the main reason for this.”
Meanwhile Australian Treasurer Swan acknowledged that the spot price of iron ore (Australia's main export) had fallen more quickly than expected, but he insisted that this would not derail government plans to return to a fiscal surplus in the current fiscal year. The comments served as a timely reminder of why the Australian dollar exhibits both safe-haven and risk-currency characteristics: a virtually pristine fiscal position ensures the former, while commodity-price exposure provides the latter
In other news, Reuters reported that while ECB President Draghi will not be part of the Jackson Hole conference due to heavy work pressure, Bundesbank President Weidmann still intends to attend however. Falling commodity prices were a key talking point during the Asia session. According to Research Analyst Chris Walker at UBS, “The New Zealand dollar fell on news that dairy-farmer incomes next season would likely be lower than had been previously indicated. What's more, a strong currency was blamed as the main reason for this.”
Meanwhile Australian Treasurer Swan acknowledged that the spot price of iron ore (Australia's main export) had fallen more quickly than expected, but he insisted that this would not derail government plans to return to a fiscal surplus in the current fiscal year. The comments served as a timely reminder of why the Australian dollar exhibits both safe-haven and risk-currency characteristics: a virtually pristine fiscal position ensures the former, while commodity-price exposure provides the latter
