Market Review - 25/05/2015 22:54GMT
Dollar remains firm following Friday's upbeat inflation data
The greenback remained firm against majority of its peers in thin trading conditions on Monday as several European and U.S. markets remain closed.
The single currency opened lower and retreated to 1.0965 in New Zealand on dollar's strength and continued to remain under pressure in Asia before weakening to session low at 1.0959 in early European morning. Euro pared some of its losses and staged a minor rebound to 1.0991 in North American session before easing off.
Although the greenback rose to session high at 121.78 at Asian open, profit-taking there checked intra-day gains n price steadily weakened to intra-day low at 121.44 in European morning before trading sideways in thin North American session.
The British pound also opened lower and retreated to 1.5459 in New Zealand before staging a rebound. Cable rose to session high at 1.5508 in early European morning on cross-buying of sterling especially versus euro, however, price pared its gains and dropped to an intra-day low at 1.5457 in North American trading session.
In other news, Fed's Mester said 'macroprudential tools shud be first line of defense against financial instability; shud be cognizant of how low interest rates, unconventional policy impact financial stability; allowing politics to influence monetary policy wud be a mistake; Fed's policy independence is worth preserving.'
Data to be released on Tuesday:
New Zealand's trade balance, U.K. CBI distributive trades, U.S. durable goods, Redbook, monthly house price index, CaseShiller 20 MM, consumer confidence and new home sales.
Dollar remains firm following Friday's upbeat inflation data
The greenback remained firm against majority of its peers in thin trading conditions on Monday as several European and U.S. markets remain closed.
The single currency opened lower and retreated to 1.0965 in New Zealand on dollar's strength and continued to remain under pressure in Asia before weakening to session low at 1.0959 in early European morning. Euro pared some of its losses and staged a minor rebound to 1.0991 in North American session before easing off.
Although the greenback rose to session high at 121.78 at Asian open, profit-taking there checked intra-day gains n price steadily weakened to intra-day low at 121.44 in European morning before trading sideways in thin North American session.
The British pound also opened lower and retreated to 1.5459 in New Zealand before staging a rebound. Cable rose to session high at 1.5508 in early European morning on cross-buying of sterling especially versus euro, however, price pared its gains and dropped to an intra-day low at 1.5457 in North American trading session.
In other news, Fed's Mester said 'macroprudential tools shud be first line of defense against financial instability; shud be cognizant of how low interest rates, unconventional policy impact financial stability; allowing politics to influence monetary policy wud be a mistake; Fed's policy independence is worth preserving.'
Data to be released on Tuesday:
New Zealand's trade balance, U.K. CBI distributive trades, U.S. durable goods, Redbook, monthly house price index, CaseShiller 20 MM, consumer confidence and new home sales.
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