On Monday, amid another fall in Asian stock markets, the NZD/USD pair is also declining, though the US dollar is weakening against the Euro, the Pound, the Yen and the Frank.
Despite of the fact that the US dollar was weakened by the Yuan devaluation and then by the FOMC meeting minutes release, last Friday, the pair strengthened, almost reaching the record high at 1.3212.
The Nikkei Stock Average closed 4.6% lower and demonstrated the biggest fall since June 2013. The Japanese stock market index is falling for the fifth day.
The AUD/JPY pair continues falling and is about to reach the new lows. The attractiveness of the Yen is growing amid the declining USD, which fell after the release of the FOMC Minutes.
Last week, the GBP strengthened against the USD, reaching new local highs since the beginning of July.
For the last two weeks, the Euro is growing against the USD. Troubles in the Chinese economy affect world markets, while the Yuan weakening is a positive factor for the Euro.
The downtrend is strong. Assumingly, the fifth wave of the senior level 5 continues forming.
A further decline is expected. Assumingly, a large "bearish" correction as the wave 2 continues developing within the daily timeframe.
Oil in London slid below $45 a barrel for the first time since March 2009 on concerns Chinese demand is slowing just as supplies from the U.S. and Iran threaten to swell a global surplus.
A wave of selling gripped global markets as the rout in all but the safest assets deepened.