Markets Remain Volatile at the Beginning of the Week
Financial markets are trading in risk-on mode at the beginning of the week. The US dollar slowed its growth after a rapid increase at the end of last week. The euro is strengthening slightly. The New Zealand dollar and the Japanese yen are trading as the weakest major currencies. Gold is traded in a narrow range of 1260/5.
The meeting of the RBNZ will be held this week. It is expected, that the bank will leave the rate unchanged at 1.75%. The RBNZ survey showed that inflation expectations have weakened. The survey showed that respondents expect 1.77% annual inflation for 1 year and 2.09% for 2 years.
An important event this week will be the release of data on the US CPI. It is expected, that the indicator for July will improve to 1.8% yoy.