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NZD/USD Bounces on Strong Q3 Jobs Report, China PMI and Fed in Focus
Asia-Pacific markets may follow in step after Tuesday’s upbeat performance seen on Wall Street, but traders will likely remain cautious ahead of the Federal Reserve’s interest rate decision tomorrow. The Dow Jones Industrial Average (DJIA) gained 0.39% on New York’s closing bell. Rosy US corporate earnings continue to underpin equity market valuations. The New Zealand Dollar dropped -- along with its regional peer, the Australian Dollar -- against the Greenback. Traders appear to be pricing in a hawkish move for tomorrow’s Federal Reserve policy meeting when balance sheet tapering is expected. However, ... (full story)