Tuesday 13 October 2015

EUR/USD reached a three-week high

On Monday the single currency rose, reaching its highest level in three weeks. Forex traders continue to monitor whether the Fed will wait until 2016 before raising short-term interest rates.The pair was trading in a wide range between 1.1355 and 1.1396, before settling at a level of 1.1358.

On Monday morning the Atlanta Fed President Dennis Lockhart noted that FOMC will have more economic data to consider before rising the interest rates.

According to Chicago Fed President Charles Evans the weak inflation data should be taken into consideration before rising the interest rates. In his speach on Monday, he said: 

The dollar fell against the yen and USD/JPY fell about 0.20 percent to 120.03.
The dollar also fell against the pound, as the pair GBP/USD closed at 1.5346, while USD/CHF remained unchanged at 0.9606.
The Australian and New Zealand dollar were stronger in the first day of the week. AUD/USD is rising by 0.22% to 0.7361 while NZD/USD closed at 0.6716.
Gold futures climbed to a near three-month highs on Monday amid the weaker dollar.
The precious metal was trading in a wide range between 1,153.83 and 1,168.97 dollars per troy ounce, before settling at 1,163.59, up by 0.67% for the session.

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