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  • Foreign exchange market. American session: the U.S. dollar traded mixed against the most major currencies as the U.S. new home sales surged 18.0% in August
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24.09.2014, 15:30

Foreign exchange market. American session: the U.S. dollar traded mixed against the most major currencies as the U.S. new home sales surged 18.0% in August

The U.S. dollar traded mixed to against the most major currencies after the U.S. new home sales. New home sales in the U.S. rose 18.0% to a seasonally adjusted annual rate of 504,000 units in August, up from 427,000 units in July. That was the highest level since May 2008.

July's sales were revised from 412,000 units.

Analysts had expected an increase to 432,000.

The euro fell against the U.S. dollar due to the weaker-than-expected Germany's Ifo business climate index and comments by the European Central Bank President Mario Draghi. The Ifo business climate index for Germany declined to 104.7 in September from 106.3 in August. That was the fifth successive in five months and the lowest level since April 2013.

Analysts had expected the Ifo business climate index to fall to 105.9.

The European Central Bank (ECB) President Mario Draghi said in a French radio interview on Wednesday that the ECB will keep its monetary policy accommodative for as long as needed to bring inflation to 2% inflation target.

The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K.

The Swiss franc traded lower against the U.S. dollar. Switzerland's UBS consumption indicator declined to 1.35 points in August from 1.67 points in July. July's figure was revised up from 1.66 points.

The New Zealand dollar traded mixed against the U.S. dollar. In the overnight trading session, the kiwi rose against the greenback after the better-than-expected trade data. New Zealand's trade deficit fell to NZ$472 million in August from a deficit of NZ$692 million in July, beating forecasts for an increase to NZ$1,125 million in August.

Fonterra Cooperative Group lowered its forecast payout to farmers. The company cut the 2015 forecast payout to $5.30 per kilogram of milk solids from $6/kgMS.

The Australian dollar traded mixed against the U.S. dollar. In the overnight trading session, the Aussie increased against the U.S. dollar due to solid leading index from Australia. The Conference Board released its leading index for Australia. The index increase 0.5% in July, after a 0.2% gain in June. June's figure revised down from a 0.4% rise.

The Japanese yen fell against the U.S. dollar. In the overnight trading session, the yen gained against the greenback after comments by Japanese Prime Minister Shinzo Abe. Abe said he would carefully watch the impact of yen weakness on Japanese regional economies.

Japan's preliminary purchasing managers' index declined to 51.7 in September from 52.2 in August, missing expectations for an increase to 52.5.

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