USD climbed 4-year high

Noam Stiekema

The USD climbed 4-year high, despite that was experiencing some difficulties to keep the accumulated current profit. The profits of USD is coming against the backdrop of well performing US economy and loose monetary policies of Japan and Europe, increasing the pressure on the JPY and the EUR. The investors’ attention this week will be […]

USD

USDThe USD climbed 4-year high, despite that was experiencing some difficulties to keep the accumulated current profit. The profits of USD is coming against the backdrop of well performing US economy and loose monetary policies of Japan and Europe, increasing the pressure on the JPY and the EUR. The investors’ attention this week will be mainly aimed at the forthcoming meeting of the ECB, which will be held on Thursday. Meetings of central bankers in the US and Japan have already moved the market and showed a clear difference in the policies that they will carry out in the future. ECB joins leading institutions loose monetary policy and, although expectations for the upcoming meeting is that there will not be surprising solutions fraction of investors expect the disclosure of a new dose of quantitative easing. Such a move will put further pressure on the EUR against the USD.

Concerns about slowing economic growth in China, which recorded its weakest increase since 2009, decreased appetite called. “Commodity currencies” such as the NZD and AUD. Decreased interest in these two currencies, trying a new devaluation of the JPY and the CNY isolation of international markets leave Asia without a strong alternative currency. For this reason, investors are turning to the USD, strengthening further its advantage against other leading currencies. Published on Monday for business activity in the industrial production also showed a clear contrast between the US on the one hand, and the other leading economies on the other. Overseas production has expanded to 59.0 points, compared with a forecast of 56.5 points. For comparison, the same measure in China rose to 50.4 points, and in Europe by 50.6 points. Values ​​above 50 indicate expansion of business activity, but the published data shows the growing gap between the US and the world.

The leading economies on the continent, only Britain credible stable economic indicators. News in Britain rarely disappoint the market, showing good economic conditions in the country. The pound climbed to a one-month high against the EUR on Monday, and the presentation of the currency against the USD in the past has also stabilized. The most important news of the day will be associated with the US. Expected factory orders in September to shrink slightly by about 0.2%, and the trade balance recorded a deficit of about 40 billion USD. One EUR is exchanged for 1.2500 USD after yesterday bottomed at 1.2439. The pair GBP/USD is traded around 1.5985, close to opening levels today. At the same time a USD is trading around 113.50 JPY.

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