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Forex

The New Zealand dollar rose against most major currencies against the publication of positive statistics in the country

May 20, 2014, Tuesday, 13:37 GMT | 08:37 EST | 17:07 IST | 19:37 SGT
Contributed by Forex-Metal

Asian and European trading sessions:

Euro: The euro rose slightly against the dollar, disregarding the data of construction of the eurozone. As it was reported by the statistical agency of the European Union (Eurostat) the construction in 18 countries of the eurozone in March decreased and gave another indication that the eurozone economy has completed 1st quarter on a weak note.

Details: in March the construction fell 0.6 % compared to February, but rose by 5.2% compared with the same period last year. Compared with the last quarter of 2013 construction in the 1st quarter as a whole grew by 2.3 %. Nevertheless, the reduction of construction, which was observed at the end of the 1st quarter, a worrisome sign for the eurozone politicians as other previously published data also pointed to a decline in industrial production and export volumes in March. The EUR / USD pair rose to $ 1.37245 during the European session.

British Pound: The British pound rose against the dollar, retreating from the lows reached earlier on the background data on house prices. According to statistics published today by the real estate agency Rightmove, the average asking price for homes for sale increased by the maximum percentage since April 2002 - by 3.6% , or 9,409 pounds ($ 15,813 ) , to a new record high of 272,003 lbs. Compared to May 2013 prices were 8.9% higher. "Capital now needs a program of colossal dimensions to create a flow of housing supply. Larger initiatives on transport, new satellite cities and the release of land for development for both private and social sectors will help to relieve the increasing price pressure ," - said Miles Shipsayd of Rightmove . The survey also showed that the asking prices in London reached a fresh high ownership in 592,763 pounds , almost 20,000 more than in April. The GBP / USD pair fell to $ 1.6804 and then rose to $ 1.6844 during the European session.

New Zealand dollar: The New Zealand dollar rose against most major currencies against the publication of positive statistics in the country, which could push the CB guide New Zealand to further tighten monetary policy. Today, the country's Statistics Department reported that the Producer Price Index Input New Zealand in the first quarter increased by 3.1 % compared to a year earlier, and performance of services in the country has increased the most since 2007 and amounted to 58.9 in April.


American trading session:

Euro: Some support to the euro had the comments of representative of the ECB Ms. Jens Weidmann. Speaking today in Frankfurt, ECB Governing Council member and head of the Bundesbank, J. Weidmann said: "Eurozone inflation will remain low for a long time"

Gold: Gold prices rose today as the dollar and stock markets fell. The cost of the June gold futures rose to a high of $ 1298.55on the COMEX today.

Oil: Prices for WTI crude oil raising on speculation that escalating tension in Libya would further disrupt supplies from the owner of the largest reserves of Africa. The cost of June futures on WTI rose to $ 102.75 a barrel on the New York Mercantile Exchange.