Monday, 11 May 2015

XE Market Analysis: Europe - May 11, 2015

The biggest mover today was the NZD, which dove to eight-week lows under 0.7400 against the dollar. This followed a number of bank calls for the RBNZ to cut rates, and soft NZ retail sales data. The USD, meanwhile, continued to hold generally firm. EUR-USD extended Friday's losses in making a six-day low of 1.1133. This makes it the third consecutive daily lower low after logging a 10-week high at 1.1392 last Thursday. The pair has also dropped back below its 100-day moving average, which is currently sitting at 1.1230.



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