FX & CFD trading involves significant risk
The yen rose against most of the 16 major currencies as investors sought safe haven for their assets against the debt crisis in Europe, which negatively affects the growth of the global economy. It is also to strengthen the currency impact data, which showed that Japan's economy grew less than expected. Economic growth in Japan fell to 1.4% per annum in the second quarter compared with a revised 5.5 percent in the first three months of the year.
At the same time, the euro rebounded against the dollar after Italy had sold treasury bills to the bag 8 billion euros ($ 9.9 billion). Previously, the exchange rate fell, as the ECB Governing Council member Luc Cohen stated that the purchase of bonds in Spain and Italy will not solve the difficulties encountered, and will not affect the growth of investor confidence. Yield increases as financial markets do not trust the Spanish and Italian authorities to take steps to restore their economies.
Demand for the dollar was weak on the eve of release of data on the level of retail sales and industrial production, which will be published this week.
Course of the New Zealand dollar rose as market participants are waiting for the release of data on the level of retail sales, which is expected to grow by 0.7%.
EUR/USD: during the European session, the pair has grown substantially, showing thus an increase of more than one figure, and is now trading at $ 1.2350
GBP/USD: a pair of rose, updating the Friday's high, and is now trading in the area of maximum
USD/JPY: during the European session, the pair fell Y78.15, but then recovered slightly
At 22:45 GMT New Zealand has announced a change in retail sales with and without allowance for vehicle sales for the second quarter. At 23:01 GMT the UK will provide data on the balance of housing prices from the RICS in July. At 23:50 GMT Japan will publish the minutes of the meeting of the Bank of Japan on monetary policy in August. At the same time leaves the index of activity in the services sector in June.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.