USD reached 11-years high

Noam Stiekema

The USD grew to its highest level in last 11 years against the major currencies, due to the strong macroeconomic news from USA and the faltering EUR, forcing more and more investors to direct their funds to safer currencies. The investors attention at the beginning of the new week is aimed at China. After a […]

USD cash

USD cashThe USD grew to its highest level in last 11 years against the major currencies, due to the strong macroeconomic news from USA and the faltering EUR, forcing more and more investors to direct their funds to safer currencies. The investors attention at the beginning of the new week is aimed at China. After a series of weekends in the country on the occasion, the celebrations of the Lunar New Year, in today’s stock market started working again, registering increases. This happened after Saturday’s Bank of China surprised the market by announcing that reduced interbank rates in the country, in an attempt to expand further expansionary policy.

Although at the time the impact of the move of the central bank is extremely low, it shows intent to active economic activities that aim to prevent economic slowdown in China.

Hopes for strong long-term USD affected the commodities, which lost positions at the start of the week. The series of strong economic news from USA significantly increased expectations for recent actions by the Federal Reserve. An increasing part of the market analysts are of the opinion that the institution will raise interest rates later this year. At the end of this week to be published other important news overseas, which can cause new strong market movements, providing important new information about possible future actions of the Fed. It is precisely for the monthly report showing the change in non-agricultural employment in the United States, which will be taken on Friday. Estimates are that found new jobs increased by 243,000 in February, which is less compared to the previous month.

One EUR is exchanged for 1.1200 USD after earlier today reached lows at 1.1158.

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