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By admin • February 2nd, 2012

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Some would consider this past week’s close a boon for the dollar because the selling pressure eased up into the close. In reality, the drop in volatility is neither beneficial nor detrimental to the currency. We have simply seen the market hit a saturation point for fundamental warnings.

• US Dollar Risks Further Declines on Debt Ceiling, Fed Policy
• Euro’s Boost from a Weak Dollar Won’t Quiet Crisis Fears
• Japanese Yen Outlook Hinges on Broader Market Sentiment, Data Flow
• British Pound Direction Contingent on Bank of England Minutes
• Canadian Dollar To Strengthen Further On BoC Rate Expectations
• Australian Dollar to Fall on Diminishing Rate Hike Expectations
• Rebound in Sentiment to Challenge Kiwi Record Highs- Traders Eye CPI
• Gold Rally Poised to Continue Amid Rising Inflation Expectations

The kiwi advanced more than 0.85% this week hitting record highs just above 0.85-figure after data showed that growth on the isle-nation surpassed even the most optimistic estimates. Wednesday’s 1Q GDP figures bested forecasts with a print of 0.8% q/q and 1.4% y/y with both figures nearly tripling expectations. The kiwi surged on the news as rate hike expectations climbed on speculation that the Reserve Bank of New Zealand would show increased willingness to move on interest rates as the central bank sees a faster domestic recovery.