In the short term, the Kiwi may test the level of 0.675 dollars
Last week, strong US macroeconomic statistics was published, which increased the likelihood of tightening the interest rate policy in this country in the second half of 2015. According to the final assessment, in Q1 2015, the US GDP did not decrease by 0.7% (q/q), but only by 0.2% (q/q). In May, the growth of the US consumer spending was 0.9% (m/m), reaching a 6-year high. The University of Michigan consumer confidence index in the US rose from 90.7 points to 96.1 points in June 2015.
This week, it is worth paying attention to the monthly statistics on the US labor market. The expected decline in the unemployment rate from 5.5% to 5.4% will support the world's reserve currency. By the end of the week, the USD/JPY pair could rise to the level of 124.5.
The emergency meetings of eurozone finance ministers dedicated to the Greek debt problem have been held very often in recent years. If the Greek government fails to pay the next credit tranche of the IMF on June 30, Greece will face a technical default, and the euro will be on its way to collapse. In the short term, the EUR/USD may fall to the 1.1 level.
The decrease in the business activity index in China's manufacturing and service sectors may put pressure on the commodity currencies on July 1. During the week, the NZD/USD pair risks declining to the 0.675 level.
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