Currency markets once again kept their ears open for Ukraine chatter that might spur movement, but stayed relatively calm despite Russian President Vladimir Putin’s signing of an official bill to accept Crimea into Russia on Monday. Some analysts even went as far as stating that markets are normalising and pricing in the current situation.
The early part of the week has been relatively quiet in terms of data releases, with only Japanese trade balance being released. The South African Rand, too, had a calm start to the trading week, with most investors quietly awaiting the outcome of the two-day Federal Open Market Committee (FOMC) Meeting in the US, which concludes today.
Today is another relatively calm day in terms of data, with minor releases such as monthly inflation figures from South Africa, as well as Canadian monthly wholesale sales figures. The only data release worth of note is probably the New Zealand quarterly growth figures, which will be scrutinised by analysts and could potentially have a significant impact on the New Zealand dollar if it is not as expected.
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