Market Research: USD

Source: Dukascopy Bank SA
The main market drivers of the past week were the central banks, with their decisions or expectations of thereof causing a number of sharp reactions from the observed indexes. The first such response came on early Wednesday, when weak CPI numbers increased the odds of a rate cut from the RBA and pushed the Aussie's gauge to tumble below 99.0 points. The blow proved to have a long-lasting effect, as the index continued to weaken till the end of the period, ultimately posting the week's greatest loss of 3%. The next Asian session brought next major moves, this time seeing the concerned indexes shoot up. First, as the RBNZ restated its readiness to introduce further easing, but left rates unchanged and voiced expectations of strengthening in inflation, the Kiwi's measure jumped above its peers to 100.8 points and held around the +0.5% line for the rest of the week. A few hours later the BoJ surprised the market by refusing to add new easing measures to its policy, and the JPY Index surged 2 points, setting off a sharp uptrend and finishing the week with a 3.4% gain.

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