Get 40% Off
💰 Warren Buffett reveals a $6.72 billion stake in ChubbCopy Portfolios

Forex - Dollar little changed after upbeat U.S. housing data

Published 10/21/2015, 02:26 AM
© Reuters. Dollar steady to higer vs. other majors, U.S. data supports
EUR/USD
-
USD/JPY
-
USD/CAD
-
DX
-

Investing.com - The dollar was steady against the euro and moderately higher against the yen on Wednesday, as the previous session's upbeat U.S. housing starts data continued to support the greenback amid ongoing uncertainty over the timing of a U.S. rate hike.

EUR/USD was little changed at 1.1352.

The U.S. Commerce Department reported on Tuesday that housing starts rose 6.5% to 1.206 million units last month from August’s total of 1.132 million units. Analysts had expected a figure of 1.140 million.

However, the report also showed that the number of building permits issued dropped by 5.0% to 1.103 million units from August’s total of 1.170 million. Analysts expected building permits to fall by 0.9% to 1.164 million units in July.

The mixed data fuelled further uncertainty over when the Federal Reserve plans to raise interest rates.

Meanwhile, the single currency strengthened as investors looked ahead to a European Central Bank meeting later in the week amid speculation that it could flag plans to enlarge its stimulus program.

The dollar was fractionally higher against the yen, with USD/JPY up 0.09% at 119.96.

The greenback also edged higher against the Canadian dollar, with USD/CAD adding 0.08% to 1.2993 ahead of the Bank of Canada's monetary policy statement due later in the day.

The BoC was expected to leave interest rates unchanged at 0.50%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.91, not far from Monday's one-week highs of 95.05.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.