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Tuesday, July 14th
AUD/USD was rebounding this morning as NAB’s June Business Confidence and Business Conditions survey showed readings of +10 and +11, respectively, which were higher than +8 and +6 in May. NAB chief economist Alan Oster said that the forecasts suggest no more rate cuts from RBA and even a possible rate hike in 2016. The pair is at 0.7423.
The U.S. dollar index, which measures the greenback’s strength against the basket of major currencies, rose 0.23% to 97.16. The rise of the dollar is stipulated by the expectations of a rate hike. The interest for the U.S. currency was even more stirred up by the comments from Fed Chair J. Yellen last week.
NZD slips lower against stronger greenback hitting the lows of 0.6666 earlier today. The continuation of a downfall might be at questions as Greece agreement supports the demand for riskier assets. NZD/USD is changing hands at 0.6681.
EUR/USD is lower as the prospectus of a potential bailout for Greece eased concerns over a possible Grexit and prompted investors to refocus on the economic weakness in Euro zone. The single currency is trading at 1.1001 against the American dollar.
Ahead in the day, investors are viewing the U.S. retail sales, German ZEW Current Conditions and Industrial Production in EZ.
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