FXStreet – The Asian week began relatively quiet, and although the retail sales were in new Zealand solid and the Chinese data were mixed. Most of the Majors remained in a narrow Range, while the USD consolidated, the strong sell-off with the bad data on Friday. To the middle of the Asian trading Oil prices rose and the canadian Dollar, after which there were reports about it benefited that Saudi Arabia favors an Expansion of the deal to OPEC production cuts until March 2018. The Kiwi also received strong bids, as retail sales in new Zealand were above expectations.
In the course of the day has the economic calendar not much to offer and so the focus remains on the USD dynamics and the price development on the Oil market. Prior to the investors an eventful week, with the UK CPI and industrial production.
** FXStreet News Editorial, FXStreet**