King Dollar Returns

Daily Update - 10th May 2017

Yesterday’s Market

• EUR Germany Trade Balance & Import and Export Reports

Yesterday’s explained

Germany’s Trade Balance indicated a negative outcome significantly dragging the Euro further down. Euro declined sharply against the dollar on Tuesday since the dollar strengthened across the board since investors focus shifted to monetary policy and potential upcoming Federal Reserve rate hikes. Along with Federal Reserve have left the door open for possible rate hike in June and many more to come this year. This increased the bets on US Interest rate decisions among traders and a high buy off the Dollar has been initiated. The last survey which was done on US Job Opening markets showed a large growth in the sector adding more strength to the USD.

Today’s Market

• ECB President Draghi’s Speech
• NZD Interest Rate Decision & Monetary Policy Statement followed by Press Conference

Today’s Focus

Focus on today’s market will be on ECB President Draghi’s speech on Economic conditions of the European Economy to Dutch Parliament, this will be followed by New Zealand Interest Rate Decision & Monetary policy statement of New Zealand economic conditions.