Trading news

Data supported dollar & NZ bank to withdraw monetary stimulus.

U.S. dollar increased - with limitations - against major currencies. It was after positive data on the housing sector, which increased demand for the dollar. This comes in light of the concentration of the participants in the markets on economic data from the United States. Last Bernanke signal that the processes of withdrawing monetary stimulus will depend on the economic performance prompted everyone to monitor the U.S. economy.

The dollar remains the focus of attention in spite of its decline after the last Fed Chairman's remarks. As for the Central Bank of New Zealand having fixed the interest rates at the lowest rates at 2.5%, it pointed out that the processes to withdraw monetary stimulus may be needed in the coming period to reduce inflationary risks. This has had a positive impact statement on the New Zealand dollar against major currencies. New Zealand dollar/USD rose to the higher level at 0.8011 after it was trading near 0.7900 before the release of the bank's decision.

The New Zealand's Central Bank pointed out that the local currency is still high, which helps to reduce inflation. Euro fell against dollar to record lower level yesterday at 1.3175, in spite of its attempts to rise that reached only 1.3255 level. While it is trading currently at 1.3202 level. As for the dollar against the Japanese Yen pair dropped to the level of 99.98 after closing trading yesterday at 100.39.

This pair is moving nearly two weeks within a specified range of trades because of the variation among investors about the future of both the dollar and the yen in light of political changes and economic surroundings with each of them.

Thursday, 25 Jul, 2013 / 6:52

Source : https://www.firstbinaryoption.com

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