Breaking News
LAST CHANCE for Cyber Monday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dollar index edges up, remains at multi-year highs after U.S. reports

ForexJan 30, 2015 10:48AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Dollar remains at multi-year highs vs. rivals after U.S. data

Investing.com - The dollar edged higher changed against the other major currencies on Friday, as the release of tepid U.S. data failed to dampen optimism over the strength of the country's economic recovery.

In a revised report, the University of Michigan said its consumer sentiment index ticked down to 98.1 in January from 98.2 the previous month, compared to expectations for an unchanged reading.

The UoM also said its inflation expectations for the next 12 months rose to 2.5% this month from 2.4% in December.

A separate report showed that the Chicago purchasing managers' index rose to 59.4 this month from 58.8 in December, whose figure was revised up from a previously estimated reading of 58.3. Analysts had expected the index to fall to 57.5 in January.

The data came after Bureau of Economic Analysis said U.S. gross domestic product rose 2.6% in the last quarter of 2014, down from a previous estimate of 3.0% and from a growth rate of 5.0% in the three months to September.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, added 0.17% to 95.13, close to last Friday's more than 11-year highs of 95.77.

EUR/USD slipped 0.24% to 1,1290 Eurostat reported that the annual rate of euro zone inflation fell by 0.6% in January, after a 0.2% slip in December. Economists had expected an annual decline of 0.5%.

Core inflation, which strips out volatile measures such as food and energy costs, rose 0.5% on a year-over-year basis, but was still well below the European Central Bank's target of close to, but just under 2%.

In a separate report, Eurostat said the euro zone’s unemployment rate ticked down to 11.4% in December from 11.5% the previous month, confounding expectations for the rate to remain unchanged.

The pound also declined, with GBP/USD down 0.45% to trade at 1.4997.

Data earlier showed that U.K. net lending to individuals fell to £2.2 billion in December from a revised £3.1 billion in November, while another report showed that U.K. mortgage approvals rose by 60,280 last month after a downwardly revised 58,960 increase in November.

In addition, the U.K. Gfk consumer confidence index improved to 1 this month from minus 4 in December, compared to expectations for a reading of minus 2.

Elsewhere, USD/CHF rose 0.23% to 0.9260, while USD/JPY dropped 0.62% to 117.58.

A preliminary report earlier showed that Japanese industrial production rose 1.0% in December, confounding expectations for an increase of 1.3%, while a separate report showed that household spending in Japan rose 0.4% last month, below expectations for a 0.3% gain.

In Switzerland, the KOF Economic Research Agency said that its economic barometer fell to 97.0 this month from 98.8 in December, whose figure was revised from a previously estimated reading of 98.7. Analysts had expected the index to decline to 97.5 in January.

The Australian and New Zealand dollars were mixed, with AUD/USD up 0.10 % off five-and-a-half year lows at 0.7771, while NZD/USD declined 0.40% close to a three-year trough at 0.7238.

The Canadian dollar hit fresh six-year lows, with USD/CAD climbing 0.76% to 1.2716 after Statistics Canada said the country's GPD fell 0.2% in November, compared to expectations for a 0.1% downtick and after a 0.3% gain in October.

Dollar index edges up, remains at multi-year highs after U.S. reports
 

Related Articles

India rupee sees worst week in seven on new variant
India rupee sees worst week in seven on new variant By Reuters - Nov 26, 2021

By Swati Bhat MUMBAI (Reuters) - The Indian rupee saw its worst week in seven on Friday, while the benchmark 10-year yield closed at its lowest in more than two weeks as concerns...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other 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, don’t trash it.

  •           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. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • 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.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
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?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
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.
Continue with Google
or
Sign up with Email