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31 Mar 2015
What’s Next: Dollar continues to advance, Australian data eyed
FXStreet (Córdoba) - The American session saw the dollar consolidate gains following upbeat US consumer confidence data. However, the USD spike was short-lived and most pairs spent the rest of the session within narrow ranges.
Nevertheless, EUR/USD is on track to close the quarter 11% down, while the dollar index has climbed 9% in the same period, its best quarter since Q3 2008.
The pound outperformed on Tuesday, rising to a high of 1.4870 against the greenback amid quarter-end demand. USD/JPY is little changed trading on both sides of 120.00 and is closing the quarter virtually unchanged.
US stocks closed with losses, hit by quarter-end selling. For the quarter, the DJIA lost 0.3%, the S&P rose 0.4% and the Nasdaq gained 3.5%.
It's a busy day coming up for economic data releases in Asia. In Australia main events will be the AIG Manufacturing index and housing data. Also worth of notice are the Chinese PMIs and BoJ Tankan report.
As for Australia, data will take special attention amid growing speculation the Reserve Bank of Australia might cut interest rates further in April to reduce the impact of falling commodity prices.
Nevertheless, EUR/USD is on track to close the quarter 11% down, while the dollar index has climbed 9% in the same period, its best quarter since Q3 2008.
The pound outperformed on Tuesday, rising to a high of 1.4870 against the greenback amid quarter-end demand. USD/JPY is little changed trading on both sides of 120.00 and is closing the quarter virtually unchanged.
US stocks closed with losses, hit by quarter-end selling. For the quarter, the DJIA lost 0.3%, the S&P rose 0.4% and the Nasdaq gained 3.5%.
It's a busy day coming up for economic data releases in Asia. In Australia main events will be the AIG Manufacturing index and housing data. Also worth of notice are the Chinese PMIs and BoJ Tankan report.
As for Australia, data will take special attention amid growing speculation the Reserve Bank of Australia might cut interest rates further in April to reduce the impact of falling commodity prices.