The Dollar is Strengthening

The euro is being pressured by the current political situation.

Economic News
27 wrz 2017
The Dollar is Strengthening

Yesterday Donald Trump delivered a speech on a possible tough reaction and willingness to act by any means to stop North Korea's nuclear program.

The US increased its financial sanctions against 26 individuals representing North Korean banks outside its borders, and also noted the efforts made by China to comply with the financial sanctions. Despite a rather tough rhetoric, it was stressed that the North Korean denuclearization program is of a peaceful nature and all parties are interested in a peaceful resolution of the conflict, without the use of any military tools.

Also yesterday the head of the Federal Reserve, Jannet Yellen, gave a speech at which she voiced the idea that with the rates of weak inflation, there is no sense in leaving the interest rate at 2% and thus made it clear that the interest rate is likely to be raised in December, which supported the American currency.

Pressure on the euro continues due to the political situation in Germany, as the Alternative for Germany far-right party, which entered this time in the Bundestag, took the third place. The party is divided into ultra-right and more conservative politicians. That makes it difficult at the moment to create a single coalition for the adoption of important bills.

At the moment, the EUR/USD pair continues to decline and is trading near the 1.1750 mark.

Tonight at 23.00 (GMT +3) we expect a statement of the reserve bank of New Zealand and the decision on the interest rate. The NZD/USD pair is also trading in a downward movement, so despite declarations, a reversal is not expected for this pair.

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