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Dollar holds steady vs. other majors ahead of U.S. data

Published 09/30/2016, 02:27 AM
Updated 09/30/2016, 02:27 AM
© Reuters.  Dollar little changed vs. rivals, U.S. data on tap

Investing.com - The dollar held steady against other major currencies on Friday, as investors eyed a string of U.S. data due to be releases later in the day after economic reports on Thursday painted a mixed picture.

EUR/USD was little changed at 1.1224.

Investors awaited the release of U.S. personal spending and consumer sentiment data, as well as report on manufacturing activity in the Chicago area for further indications on the strength of the economy.

Sentiment on the greenback soured after data on Thursday showed that U.S. pending home sales fell 2.4% last month, missing expectations for an increase of 0.3%.

The report came shortly after official data showed that the third estimate of U.S. second quarter gross domestic product showed growth of 1.4%, revised from the previous reading of a 1.1% expansion.

Another report showed that U.S. initial jobless claims increased by 3,000 to 254,000 last week, compared to expectations for a 9,000 rise.

GBP/USD was also steady at 1.2966, not far from last week’s one-month low of 1.2912.

Elsewhere, the yen was higher against the dollar, with USD/JPY down 0.22% at 100.78, after hitting a one-week high of 101.86 on Thursday.

Optimism over the production freeze deal struck late Wednesday by major oil producers slightly eased as market players turned their attention to the OPEC's November meeting, where more details should be hammered out.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 95.40.

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