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  • Foreign exchange market. American session: the U.S. dollar traded mixed against the most major currencies after the International Monetary Fund (IMF) lowered its forecast for global growth for 2014 and 2015
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07.10.2014, 15:32

Foreign exchange market. American session: the U.S. dollar traded mixed against the most major currencies after the International Monetary Fund (IMF) lowered its forecast for global growth for 2014 and 2015

The U.S. dollar traded mixed against the most major currencies after the International Monetary Fund (IMF) lowered its forecast for global growth for 2014 and 2015. The IMF cut its forecast for global economic growth to 3.3% in 2014, down from a previous forecast of 3.4%. 2015 forecast was lowered to 3.8%, down from a previous forecast of 4.0%.

Job openings rose to 4.835 million in August from 4.6 million in July, exceeding expectations for an increase to 4.710 million.

The greenback remained supported by Friday's U.S. labour market data. The economy in the U.S. added 248,000 jobs in September, exceeding expectations for 216,000 jobs, after 180,000 jobs in August.

The unemployment rate dropped to 5.9% in September from 6.1% in August. That was the lowest level since July 2008.

The euro traded higher against the U.S. dollar. In the morning trading session, the euro declined against the greenback due to disappointing German industrial production. German industrial production declined 4.0% in August, missing expectations for a 1.4% decrease, after a 1.6% rise in July. That was the largest drop since 2009.

July's figure was revised down from a 1.9% gain.

The British pound traded mixed against the U.S. dollar after the release of mixed economic data from the U.K. Manufacturing production in the U.K. increased 0.1% in August, missing expectations for a 0.2% rise, after a 0.3% gain in July.

On a yearly basis, U.K. manufacturing production jumped 3.9% in August, beating expectations for a 3.4% increase, after a 3.5% rise in July. July's figure was revised up from a 2.2% increase.

Industrial production in the U.K. was flat in August, in line with expectations, after a 0.4% increase in July. July' figure was revised down from a 0.5% rise.

On a yearly basis, U.K. industrial production rose 2.5% in August, missing expectations for a 2.6% gain, after a 2.2% increase in July. July's figure was revised up from a 1.7% rise.

The National Institute of Economic and Social Research (NIESR) released its gross domestic product (GDP) estimate for the U.K. today. NIESR estimated that GDP increased 0.7% in the third quarter.

The Swiss franc traded mixed against the U.S. dollar. Switzerland's consumer price index increased 0.1% in September, missing expectations for a 0.2% gain, after a flat reading in August.

Retail sales in Switzerland rose 1.9% in August, exceeding expectations for a 0.8% increase, after a 0.3% decline in July. July's figure was revised up from a 0.6% decrease.

The Swiss National Bank's foreign exchange reserves increased to 462.194 billion Swiss francs in September from 453.875 billion francs in August.

The Canadian dollar traded lower after the release of the disappointing Canadian building permits. Building permits in Canada dropped 27.3% in August, after a 11.6% rise in July. July's figure was revised down from a 11.8% gain.

The New Zealand dollar traded higher against the U.S. dollar. The New Zealand Institute of Economic Research released its business confidence index. The index dropped to 19 in the third quarter from 32 in the second quarter.

The Australian dollar traded higher against the U.S. dollar. The Reserve Bank of Australia (RBA) released its interest rate decision today. The RBA kept its interest rate unchanged at 2.50%. Analysts had expected this decision.

The RBA Governor Glenn Stevens said that the Aussie remained "high by historical standards" despite the recent decrease. He also said that Australia's economy grew moderately and "labour market data have been unusually volatile".

The AIG performance of construction index climbed to 59.1 in September from 55.0 in August.

The Japanese yen rose against the U.S. dollar. Comments by Japanese Prime Minister Shinzo Abe supported the yen. Abe expressed concern about a weaker yen.

The Bank of Japan (BoJ) released its interest rate decision today. The BoJ kept its monetary policy unchanged.

The BoJ Governor Haruhiko Kuroda said at a press conference today that the BoJ will closely monitor the exchange rate. He added that the central bank will maintain its quantitative and qualitative monetary easing program until the inflation target of 2% is achieved. Kuroda noted the BoJ will adjust its quantitative and qualitative monetary easing program if necessary.

Japan's preliminary leading index declined to 104 in August from 105.4 in July, missing expectations for a decrease to 104.2. That was the lowest level since January 2013.

Japan's coincident index fell to 108.5 in August from 109.9 in July.

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