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Tuesday, May 26th
Yesterday, the Australian dollar held steadily against the U.S. dollar after reaching the three-weeks lows over the growing demand for the greenback. However, there was a decline of the aussie during today’s Asian session in anticipation of the data from U.S. due later in the day. The pair is currently traded at 0.7810.
NZD/USD is still going down after last week’s positive news from Fed on raising interest rates later this year. The pair is likely to find support at 0.7275, the low of March 18.
The dollar was higher against the basket of major currencies on Monday with the U.S. dollar index reading currently at 97.05.
After a brief rise of EUR/USD last Thursday caused by Mario Draghi’s announcement that ECB’s policies have proved to be effective for the euro zone’s recovery, the single currency is still going down with concerns over Greek situation still at play. EUR/USD is traded at 1.0915 passing the one-month lows. The U.S. consumer price rise for the third month in row contributed to the strengthening of the dollar.
The markets are in anticipation of the data from U.S. on CB Consumer Confidence (May), New Home Sales in April and the Durable Goods Orders (MoM).
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