We have updated our privacy policy and terms & conditions. Find out more here.
5
 

Dollar broadly lower after weak U.S. durables data

By Investing.com  |  Forex  |  Aug 26, 2013 12:43PM GMT  |   Add a Comment
 
AA
+
-
Investing.com - The dollar turned lower against the other major currencies on Monday after data showing that U.S. durable goods orders fell by the most in almost a year in July dampened expectations for a reduction in stimulus by the Federal Reserve next month.

 Dollar broadly lower after weak U.S. durables data
During European afternoon trade, the dollar fell to session lows against the yen, with USD/JPY down 0.42% to 98.31.

The Commerce Department said durable goods orders dropped 7.3% in July, worse than expectations for a 4% decline. It was the largest decline since August 2012.

Core durable goods orders, excluding volatile transportation items, fell 0.6% last month, defying expectations for a 0.5% increase.

The data came after a report on Friday showed that U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.

The weak data added to uncertainty over whether the Fed will start to taper its USD85 billion-a-month asset purchase program next month.

The dollar edged lower against the euro, with EUR/USD easing up 0.06% to 1.3386.

Demand for the single currency continued to be underpinned after a senior European Central Bank policymaker said Friday he did not see many arguments for a rate cut following a recent series of improved economic data from the region.

The dollar fell to session lows against the pound, with GBP/USD up 0.23% to 1.5603.

The dollar gave up gains against the Swiss franc, with USD/CHF dipping 0.04% to 0.9214, off highs of 0.9246.

Elsewhere, the greenback was broadly lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD rising 0.20% to 0.9043, NZD/USD advancing 0.55% to 0.7850 and USD/CAD up 0.10% to 1.0508.

In New Zealand, data on Monday showed that the trade balance swung into a larger than expected deficit of NZD774 million in July, from a surplus of NZD374 million the previous month.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, slipped 0.08% to 81.34.

Trade volumes were expected to remain light on Monday, with markets in the U.K. closed for a national holiday.




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.

Related Articles

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.

USD/CAD
 
 
 
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.
_touchLoadingMsg