USD Still Near 4 Month Low Against, Speculation Grows in NZ Concerning Interest Rate Hike
May 18, 2015 6:52 am
U.S. stocks were little changed on Friday, with the S&P 500 closing at a record high for a second straight session after a ream of weak economic data. Asian shares slipped on Monday and the Dollar stayed near a four-month low against a basket of major currencies after soft data raised doubts over whether the U.S. economy has been growing despite U.S. share prices standing at historic highs. The Dow rose 20 points to close at 18,272, the SP500 gained 1 point to close at 2,122.
The Euro traded at $1.1428, near a three-month high of $1.1468 hit on Friday. The Yen was little changed at 119.27 to the Dollar while Sterling was off Thursday’s six-month high of $1.5815, changing hands at $1.5733. The New Zealand dollar fell 0.4% to $0.7443 after the government announced on Sunday a new capital gains tax on residential property investments to cool soaring prices in Auckland. The move raised speculation that the central bank could cut interest rates in coming months.
Oil prices held firm on supply concerns in the Middle East following fighting in Iraq and Yemen, with Brent futures standing at $66.84 per barrel. U.S. crude rose 23 cents to $59.92
Within the equity space a U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay a collective $806m for making false statements in selling mortgage backed securities to Fannie Mae and Freddie Mac.
U.S. stocks were little changed on Friday, with the S&P 500 closing at a record high for a second straight session after a ream of weak economic data. Asian shares slipped on Monday and the Dollar stayed near a four-month low against a basket of major currencies after soft data raised doubts over whether the U.S. economy has been growing despite U.S. share prices standing at historic highs. The Dow rose 20 points to close at 18,272, the SP500 gained 1 point to close at 2,122.
The Euro traded at $1.1428, near a three-month high of $1.1468 hit on Friday. The Yen was little changed at 119.27 to the Dollar while Sterling was off Thursday’s six-month high of $1.5815, changing hands at $1.5733. The New Zealand dollar fell 0.4% to $0.7443 after the government announced on Sunday a new capital gains tax on residential property investments to cool soaring prices in Auckland. The move raised speculation that the central bank could cut interest rates in coming months.
Oil prices held firm on supply concerns in the Middle East following fighting in Iraq and Yemen, with Brent futures standing at $66.84 per barrel. U.S. crude rose 23 cents to $59.92
Within the equity space a U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay a collective $806m for making false statements in selling mortgage backed securities to Fannie Mae and Freddie Mac.
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