The S&P 500 headed for record closing highs, building on gains from last week after a similar vaccine-related update from Pfizer Inc brightened the economic outlook and sparked a rotation into cyclical and value shares.
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While the pair's latest upside comes from the upbeat comments from RBNZ Assistant Governor Christian Hawkesby. The policymaker rekindled the New Zealand central bank's cautious optimism while expecting economic recovery and citing need for less stimulus.
Be it the refrain from entertaining the chatters for negative rates, at least for now, or hopes of economic recovery, yesterday’s updates from the Reserve Bank of New Zealand (RBNZ) pleased NZD bulls. The mood also got confirmations from the coronavirus (COVID-19) conditions at home, unlike those from the US and Europe.
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USD/CAD slips as rising Biden election prospects lifts global growth tones.
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Dry weather affecting corn and soybean planting in South America, as well as winter wheat seeding in the United States and Russia, threatens to trim ample global supplies as China drives demand.
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