Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
The New Zealand bonds slumped at the time of closing Friday as investors remained sidelined in any major trading activity amid a silent session that witnessed data of little economic significance. Also, investors are eyeing the GlobalDairyTrade (GDT) price auction, scheduled for early next week.
At the time of closing, the yield on the benchmark 10-year bond, which moves inversely to its price, surged 5 basis points to 2.79 percent, the yield on 7-year note jumped 3-1/2 basis points to 2.68 percent and the yield on short-term 2-year note ended 2 basis points higher at 1.95 percent.
New Zealand’s Q1 GDP rose by 0.5 percent in the March quarter, the second quarter in a row of subdued growth. The main contributors were a rebound in dairy production and strong gains in consumer spending and business investment.
Quarterly GDP growth came in substantially lower than expected. The production measure of GDP rose by 0.5 percent in the March quarter, compared to a median forecast of 0.7 percent, the Reserve Bank’s forecast of 0.9 percent, and the Treasury’s forecast of 1.1 percent.
Meanwhile, the New Zealand’s benchmark S&P/NZX 50 Index closed 0.48 percent higher at 7,552.75 while at 06:00GMT, the FxWirePro's Hourly NZD Strength Index remained neutral at 22.83 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
