U.S. Dollar Mixed After U.S. GDP Growth Unrevised
26 Settembre 2019 - 11:41AM
RTTF2
The U.S. dollar showed mixed mixed trading against its major
counterparts in the European session on Thursday, after the release
of a data that showed the U.S. economy expanded in line with the
previous estimate in the second quarter.
Data from the Commerce Department showed that said real GDP
increased at an annual rate of 2.0 in the second quarter, unchanged
from the previous estimate and in line with economist
estimates.
The unrevised 2.0 percent GDP growth in the second quarter still
reflects a notable slowdown compared to the 3.1 percent jump in the
first quarter.
A separate report from the Labor Department showed first-time
claims for U.S. unemployment benefits crept slightly higher in the
week ended September 21st.
The report said initial jobless claims inched up to 213,000, an
increase of 3,000 from the previous week's revised level of
210,000.
Economists had expected initial jobless claims to tick up
212,000 from the 208,000 originally reported for the previous
week.
At 10:00 am ET, the National Association of Realtors is due to
release its report on pending home sales in the month of August.
Pending home sales are expected to climb by 0.9 percent in August
after tumbling by 2.5 percent in July.
The currency was lower against its most major counterparts in
the previous session.
The greenback pulled back to 1.2363 against the pound, from a
2-week high of 1.2303 seen at 5:30 am ET. The currency is likely to
find support around the 1.25 level.
Data from the Society of Motor Manufacturers and Traders showed
that UK car production increased for the first time in 15 months in
August.
Car production grew 3.3 percent on a yearly basis in August as
factories kept production lines rolling throughout the month after
they brought forward planned summer shutdowns to April in
preparation for the original Brexit deadline.
The greenback held steady against the yen, after reaching as low
as 107.55 at 6:35 am ET. At yesterday's close, the pair was worth
107.77.
Bank of Japan Governor Tohiko Kuroda said that the bank will
conduct monetary policy without any prejudice in mind.
The momentum towards price stability target may be impaired and
downside risks likely increased, Kuroda noted. With this situation
in mind, the board will reexamine economic and price trends at the
next policy meeting, he said.
The greenback retreated to 1.0956 against the euro, from more
than a 2-year low of 1.0923 hit at 6:30 am ET. If the greenback
slides further, 1.12 is likely seen as its next support level.
Data from the European Central Bank showed that Eurozone money
supply grew at a faster pace in August and growth in private sector
credit accelerated.
The broad monetary aggregate M3 climbed 5.7 percent year-on-year
in August, faster than the 5.1 percent increase logged in July.
Following a 1-week high of 0.9948 hit at 6:00 am ET, the
greenback reversed direction against the franc, with the pair
trading at 0.9923. The greenback is seen finding support around the
0.96 region.
The U.S. pending home sales for August are scheduled for release
shortly.
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