Market news
29.04.2011, 11:48

EU session review: Dollar remains under pressure

Data released:
06:00     Germany     Retail sales (March) real adjusted    -2.1%    0.2%    -0.3%
06:00     Germany     Retail sales (March) real unadjusted Y/Y    -3.5%    1.4%    1.1%
08:00     EU(17)     M3 money supply (March) adjusted Y/Y    2.3%    2.1%    2.0%
08:00     EU(17)     M3 money supply (3 months to March) adjusted Y/Y    2.0%    1.9%    1.7%
09:00     EU(17)     Harmonized CPI (April) Y/Y preliminary    2.8%    2.7%    2.6%
09:00     EU(17)     Unemployment (March)    9.9%    9.9%    9.9%
09:00     EU(17)     Economic sentiment index (April)    106.2    107.1    107.3
09:00     EU(17)     Business climate indicator (April)    1.28    1.40    1.43 (1.41)

The US currency weakened this month as the Fed maintained a near- zero benchmark interest rate and boosted the supply of the U.S. currency by buying Treasuries, a policy known as quantitative easing that is set to end in June.
The Swiss franc strengthened to a record against the dollar. Switzerland’s leading economic indicator unexpectedly increased in April, signaling the economy is gaining momentum. The index climbed to 2.29 compared with a revised 2.25 in March, the KOF Swiss Economic Institute said in a statement today. That’s the highest since August 2006. Economists expected a decline to 2.20.
China’s yuan strengthened beyond 6.5 per dollar for the first time since 1993, supported by speculation the central bank will allow appreciation to help tame the fastest inflation in more than two years.
The currency’s seventh weekly gain, its longest winning streak since July 2008, may damp U.S. criticism of China’s exchange-rate policy before Vice Premier Wang Qishan heads to Washington next month for talks with Treasury Secretary Tim Geithner. Consumer prices in Asia’s biggest economy rose 5.4% from a year earlier in March, exceeding the government’s 4% goal for this year.

EUR/USD was back to $1.4880 after declining to $1.4770.

GBP/USD retreats from session highs on $1.6690. Currently rate holds around $1.6666. 

USD/JPY consolidated within the Y81.50/60 range before retreated to Y81.28.


A heavy US session kicks off at 1230GMT, with the release of the April ISM-NY Business Index data. Also at 1230GMT, March Personal Income, Expenditures data and the Q1 Employment Cost Index data are released. Personal income is expected to rise 0.4% in March, as payrolls rose 216,000, but hourly earnings were flat, and the average workweek held steady at 34.3 hours.
PCE is expected to rise 0.5%, as retail sales rose 0.4% and sales were up 0.8% excluding autos. The core PCE price index is forecast to rise 0.1%. The Employment Cost Index is expected to rise by 0.5% in the first quarter after rising 0.4% in each of the last two quarters.



© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location