Major currencies rate in the second week of December

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The US dollar fell on Friday at the end of last week’s trading, especially after the release of the Reserve Bank of New York report, which affected the markets. In addition to the future Reserve Bank’s expectations, which were affected by recent Fed decisions. The dollar index fell against the other major currencies by 0.17%, and trader at 93.48 points.

The report showed that the manufacturing sector fell in New York City for the second month in a row, with its index in December being 18 points, compared to 19.4 in November, although market analysts’ expectations were of 18.6 points.

The new orders index stabilized at 19.5 for December, while the index of shipments rose to 22.4 points. The report of the Reserve Bank of New York City, or “Empire State”, is very important for Forex traders because it can be a forecast of what ISM will release.

The Federal Open Market Committee, which makes monetary policy decisions in the Federal Reserve, decided to raise interest rates for the third time in 2017 to 1.25% – 1.50%, a decision long anticipated by markets or analysts.

Reserve officials also raised their forecast for economic growth this year to 2.5% for both this year and 2018. This is an increase of 4/10 from their previous forecast issued in September. However, the central bank kept its expectations of raising interest rates in 2018 on only 3 times and also in 2019 so 3 times each year. While markets were looking for the bank to say it would raise interest rates to 4 times in 2018 at least.

The Euro rose against the US Dollar at the end of last week by 0.25%, with EUR / USD trading at $ 1.1807. The pound fell against the dollar by 0.57%, with the GBP / USD trading at 1.3355 dollars, after the Bank of England kept its monetary policy unchanged.

The US dollar fell 0.16% to trade at 112.20 yen per dollar after Japan released business confidence data for the December session, which showed an improvement for the fifth consecutive quarter. The greenback was down against the Australian dollar by 0.12% and the pair was trading at 0.7676, against the New Zealand dollar at 0.59%. The pair is trading at 0.7025, and the Canadian dollar is trading at 0.16%, at 1.2769.