In expectation of US unemployment data
Forex is being consolidated after the strong statistical data from USA which was published yesterday. Index of business conditions NAPM New York came out on the level 608.5 points against previous value of 598.7 points. This data produced a negative influence on the Stock markets not only in the US but in other countries as well, because such statistics supported expectations of the announcement of stimulus reduction decision on the December’s meeting of FRSM that is going to be on the 12th of December. US dollar holds its position due to such expectations and will definitely receive support on the markets.
Australian dollar that is negatively influenced by the RBA policy is still under the strong pressure. It’s possible that New Zealand dollar that is around its historical maximum values will decline in a long run.
Semyon Kamenski