The greenback managed to post some gains on the back of a better than expected durable goods orders report. Data showed that headline durable goods orders rose 1.7% on a month over month basis in August, beating expectations of a 0.9% increase. Investors were also positive on the U.S. dollar on the proposed tax overhaul which is expected to offer lower tax on corporate businesses and tax cuts on small businesses.
The RBNZ’s meeting held yesterday saw the OCR being unchanged at 1.75% as widely expected. The RBNZ was seen lowering its GDP forecasts for the year ahead with the central bank likely preparing for a dovish forward guidance.
Looking ahead, the economic calendar today will focus on the final GDP revisions for the second quarter. According to the median estimates, the U.S. final GDP is expected to remain steady at 3.0%. The BoE Governor Carney is also expected to speak later today.
