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

Forex - Dollar broadly lower as riskier currencies climb

ForexMay 09, 2013 01:26AM 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 U.S. dollar is trading lower against all of its major rivals during Thursday’s Asian session as traders embrace some of the world’s riskier currencies.

In Asian trading Thursday, EUR/USD inched up 0.04% to 1.3160 after Germany's industrial output, which includes manufacturing, mining, electricity and gas concerns, shot up 1.2% in March, the largest increase in a year and defying expectations for a 0.1% decline. February’s figure was revised up 0.6% from 0.5%.

Official data released on Tuesday revealed that German factory orders climbed 2.2% in March, defying expectations for a 0.5% decline. Germany is the euro zone’s largest economy. Those data points were published Wednesday.

GBP/USD nudged up 0.04% 1.5542 as traders speculated the Bank of England will not expand its monetary stimulus program when it meets later Thursday. BOE currently has an asset-buying program of USD583 billion that few economists polled expect to change.

USD/JPY fell 0.12% to 98.90. A technical analyst at Mitsubishi UFJ Morgan Stanley Securities said USD/JPY could drop back to the 91 area. The yen is worst-performing developed market currency in the world this year.

USD/CHF inched lower by 0.04% to 0.9353 while USD/CAD fell 0.08% to 1.0027 after Alberta's Energy Resources Conservation Board said the region in Western Canada could double its output to 3.8 million barrels per day by 2022. Canada’s oil sands region is believed to be home to the world’s third-largest reserves behind OPEC members Saudia Arabia and Venezuela.

NZD/USD climbed 0.54% to 0.8449, reclaiming all of its post-intervention revelation losses after Statistics New Zealand said in a report that the country’s employment rate rose 1.7% in the first quarter, easily topping analysts’ expectations calling for a 0.8%. New Zealand’s unemployment rate is now 6.2%, well below the 6.8% economists expected.

AUD/USD rose 0.17% to 1.0191 ahead of Australia’s April jobs report due out later Thursday. Economists expect the addition of 11,000 jobs and the unemployment rate to remain at 5.6%.

The U.S. Dollar Index fell slightly by 0.04% to 81.95.

Forex - Dollar broadly lower as riskier currencies climb

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.

Are you sure you want to delete this chart?
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
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.