US Dollar Index
The U.S. dollar traded mixed against its major peers on Wednesday, still supported by speculations on a rate hike in June. Job openings climbed to 4.998 million in January from 4.877 million in December. That was the highest level since January 2001. Wholesale inventories in the U.S. rose 0.3% in January, missing expectations for a flat reading. Inventories of durable goods increased 0.6% in January, while inventories of non-durable goods fell by 0.1%.
Euro
The euro and sterling stabilized after yesterday's plunge with sterling slightly positive and the euro currently at USD1.0673. Quantitative Easing and concerns over Greece weighed on the single currency.
British Pound
The sterling rose cautiously against the US dollar during the Asian session because of the profit taking from investors and ahead of industrial data to be released later from the UK.
Australian Dollar
The Australian dollar declined against the greenback to a new five-week low at USD0.7586, currently quoted at USD0.7604. The Westpac Consumer Confidence index declined by -1.2% for the month of March. Assistant Governor of the RBA, Christopher Kent said that the record low interest rate of 2.25% together with other steps taken by the bank should help to boost economic growth, sustain activity in the housing sector and support household wealth. Home Loans declined by -3.5% in January, more than the expected -1.9%. Chinese Retail Sales rose less-than expected to +10.7%. Analyst expected +11.6% in February compared to +11.9% in January. Industrial Production in the second largest economy rose +6.8% year on year, below the estimated growth of +7.7%. Fixed Asset Investment came in at +13.9%, also below expectations of an increase of 15.1%.
Japanese Yen
The Japanese yen traded lower against the greenback on Wednesday but above the new 8-year low at USD122.02 set yesterday. Core Machinery Orders for January declined less-than-expected in January with a reading of -1.7% compared to +8.3% in the previous month and forecasts of a decline of -3.8%.