USD Holds Strong as New Week Begins in Forex Trading


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The US Dollar (USD) begins the week with much vigor against other key currencies, and retains the region of 105. 50 on the US Dollar Index while similarly, for the NZDUSD chart, an optimal level has been identified at 1. 40 on the daily chart. Demand continues to be light as there aren’t any large reports of economic data for investors to pore through: instead they’re keen on central bank speeches. The USD is maintained by Federal Reserve’s décision of tightening its monetary policy and risk-off mood, while US stock index futures and 10-year US Treasury bond yield will stays unchanged. In Asia, another country that experienced a rise in economic activity through Retail Sales was China with a percentage increase of 3. 7% year on year in May against predicted figures, whereas Industrial Production was slightly below estimated at 5. 6%, affecting markets. Concurrently, within Australia, Job Advertisements decreased by 2. It gave 1% monthly in May which has put certain pressure over the AUD/USD price which is at nearly 0. 6600. In monetary central policy news this week the Reserve Bank of Australia (RBA) will be making its monetary policy decision on Tuesday.