We have updated our privacy policy and terms & conditions. Find out more here.

Dollar advances as U.S. data awaited

ForexAug 12, 2013 09:12AM GMT Add a Comment

Share with a Friend


Thanks for sharing

Emails have been sent to:
To send more emails click here
Investing.com - The dollar advanced against the other major currencies on Monday ahead of U.S. data on retail sales data on Tuesday, as speculation over when the Federal Reserve could start to pull back its stimulus program continued.

During European morning trade, the dollar rebounded against the yen, with USD/JPY climbing 0.44% to 96.67, after briefly falling to lows of 95.93 when data showed that Japan’s economy expanded at a slower-than-forecast rate in the second quarter.

Official data released Monday showed that Japan’s economy expanded by 0.6% in the second quarter and grew by 2.6% on a year-over-year basis. Economists had forecast growth of 0.9% for the quarter. 

The dollar firmed up amid expectations that a strong U.S. retail sales figure for July would point to an early conclusion to the Fed’s USD85 billion-a-month asset purchase program.

 Elsewhere, the dollar pushed higher against sterling, with GBP/USD down 0.26% to 1.5466.

The dollar also gained ground against the euro, with EUR/USD losing 0.31% to trade at 1.3302.

The dollar rose to session highs against the Swiss franc, with USD/CHF climbing 0.40% to 0.9260.

The Swiss franc was little changed after official data showed that retail sales in Switzerland rose 2.3% from a year earlier in June. Economists had expected retail sales to remain unchanged from May's figure of 1.8%.

The greenback was broadly higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD down 0.49% to 0.9152, NZD/USD shedding 0.46% to trade at 0.7999 and USD/CAD rising 0.26% to 1.0314.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was 0.32% higher at 81.42.

Dollar advances as U.S. data awaited

Related Articles

Forex - Euro gains more than 2% against Swiss franc
Forex - Euro gains more than 2% against Swiss franc
By Investing.com - Jan 26, 2015

Investing.com - The euro rose more than 2% against the Swiss franc on Monday, moving back to parity and recovering from lows hit in the wake of a sweeping election victory for the ...

Add a Comment


Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Are you sure you want to delete this chart?

Successfully Reported

Thank you. This comment has been flagged for a moderator.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.