Forex Today: Kiwi cheers NZ CPI, trade talks set to resume, and Bitcoin recovery falters

NZ dollar advances further on steady NZ inflation data.
RBA minutes: Ready to ease further when needed.
Bitcoin faces rejection below the 11k mark.

Dhwani Mehta FXStreet

Here is what you need to know to start your day on Tuesday, July 16th, European session:

- New Zealand’s Q2 CPI data matched estimates and drove NZD/USD to fresh 3-month highs of 0.6738, Aussie hung near 10-day tops despite dovish RBA minutes, USD/JPY held steady near 108.00 amid weaker Asian stocks. *

- US dollar index extended overnight consolidation just below 97 mark, 10-year treasury yields were modestly flat, Gold traded firmer above 1415 levels. *

- UK: Easing fears over a Hard Brexit kept the Cable buoyed ahead of key UK jobs report and Carney’s speech. *

- S. Korea-Japan trade tensions escalated as Japanese Trade Minister Seko lashed out at S. Korea. US-China trade talks to resume this week, US Treasury Sec. Mnuchin said. *

- Oil prices steadied as US Gulf of Mexico output resumed, the focus stays on API data, Middle East developments. *

- Cryptocurrencies stalled the recovery from the recent carnage. Bitcoin’s recovery fizzled below 11k. Mnuchin joined US regulators to air concerns over Facebook’s Libra. *

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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