Earlier in the Day:
It was a busy start to the day on the economic calendar. this morning. The Kiwi Dollar and the Japanese Yen were in action. Later this morning, the RBA will deliver its July monetary policy decision.
For the Kiwi Dollar
Business confidence was in focus in the early hours.
In the 2nd quarter, the NZIER Business Confidence increased by 7%, partially reversing a 13% decline from the previous quarter. Economists had forecast a 7% decline.
According to the NZIER, firms’ own trading activity also picked up strongly, with a net 26% of businesses reporting increased demand.
The Kiwi Dollar moved from $0.70217 to $0.70362 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.43% to $0.7057.
For the Japanese Yen
Household spending fell by 2.1% in May, month-on-month, which was better than a forecasted 3.2% decline. In April, spending had risen by 0.1%.
Year-on-year, household spending was up…