During today’s early trading session, Asian stocks traded lower as Japanese shareholders took profits on the last day of the first quarter. The Nikkei share average was down 1.05%, closing at 19,206 points. Following the release of negative data out of New Zealand, the NZD/USD dropped early this morning to its lowest level since March 20th, Building Consents for the month of February dropped significantly by 6.3%, analysts had expected a rise of 2%. This negative data added to concerns that the Reserve Bank of New Zealand is to lower interest rates mid-2015, which could continue to weigh on the NZD over the long term.

During the European session the Euro dropped to 1.071 despite positive data from Germany showing that the country’s unemployment rate dropped to a record low. The Euro declined following the failed agreement between Greece and its creditors, the nation will run out of cash unless an agreement is reached over an extended bailout plan by the end of this month. Tomorrow, Germany is to release the Manufacturing PMI for the month of March, if the actual figure is lower than the expected figure of 52.4 this could cause the Euro to drop further in the short term.

During early U.S. trade, American stocks continue to rally as investors digest Janet Yellen’s comments on rising interest rates, she stated on Friday that a hike in rates is expected later this year but will do so gradually if there is continued improvement in the economy. Nasdaq Composite is up 1.15%, S&P 500 is up 1.22% and Dow Jones rallied 1.49%. Currency traders are now awaiting the U.S. CB Consumer Confidence taking place at 15:00 GMT. A negative reading could push down the Dollar in the short term.

Ask us about our FREE financial advice program: 

Other top stories:

All Your Brokers and Signals in 1 Place - Binary Trade Center

Countless Already Joined and Made a Profit - What About You?

How I Made Over $30,000 a Year by Investing in Binary Options

Follow us and SHARE this story on Facebook: