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10.08.2017 10:12 AM
Some can not, others do not want

The US dollar attempted to increase yesterday's day after the release of good fundamental data.

By the end of the US session yesterday, further released data indicates growth of US inventories.

A slight pressure on the US economy was made by the president of the Fed-Chicago Charles Evans, stating that the Fed should be very cautious about further raising rates .

Evans also believes that it would be prudent to start reducing the Fed in the month of September.

As for the technical picture of the EURUSD, it remained unchanged compared to the previous day.

The New Zealand dollar collapsed against the US dollar in the Asian session after the Reserve Bank of New Zealand left the official interest rate unchanged at 1.75%.

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The RBNZ stated that monetary policy will remain soft in the foreseeable future due to a lot of uncertainties remains and because the policy can be adjusted. The Central Bank also expects that the overall inflation rate will decline in the next quarter, but long-term inflation expectations remain firmly fixed.

The RBNZ believes that a lower rate of the New Zealand dollar is needed in order to support the growth of inflation.

Prices of oil remained at the same level after the release of yesterday's report from the US Department of Energy about stocks. According to the data, commercial oil reserves in the US fell by 6.5 million barrels to 475 million barrels. The refinery's load increased by 0.9 percentage points to 96.3%, while gasoline stocks jumped by 3.4 million barrels.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2026
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