Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dollar remains moderately higher after U.S. data, eyes on Yellen

ForexMar 27, 2015 11:55AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Dollar holds modest gains vs. other majors ahead of Yellen speech

Investing.com - The dollar remained moderately higher against a basket of other major currencies on Friday, after disappointing U.S. fourth quarter growth data and an upbeat report on consumer sentiment, as markets turned to an upcoming speech by Federal Reserve Chair Janet Yellen.

In a report, the U.S. Bureau of Economic Analysis said that fourth quarter gross domestic product rose 2.2%, in line with a preliminary estimate but below expectations for a growth rate of 2.4%.

Separately, the University of Michigan said that its consumer sentiment index rose to 93.0 this month from a reading of 91.2 in February, beating expectations for a rise to 92.0.

The University of Michigan also reported that its inflation expectations for the next 12 months remained unchanged at 3.0% in March.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.08% to 97.62.

EUR/USD was down 0.11% to 1.0872, just off session lows of 1.0801.

Sentiment on the euro remained vulnerable after Greece failed in a bid on Wednesday to secure a quick cash payment from the euro zone rescue fund to help stave off potential bankruptcy next month.

Athens had appealed for the European Financial Stability Facility to return €1.2 billion it said it had overpaid when it transferred bonds intended for bank recapitalization this month.

The Greek government is expected to present a detailed list of proposed reforms to its eurozone partners by next Monday.

The pound remained higher, with GBP/USD up 0.32% to 1.4897.

Demand for sterling strengthened after Bank of England Governor Mark Carney said that the central bank's next move on interest rates would be upward.

Earlier Friday, the Nationwide Building Society reported that U.K. house prices rose 0.1% this month, disappointing expectations for a 0.2% gain, after a 0.1% downtick in February.

Elsewhere, the dollar was steady against the yen and the Swiss franc, with USD/JPY at 119.18 and with USD/CHF at 0.9624.

In Japan, official data earlier showed that household spending rose 0.8% in February, exceeding expectations for a 0.5% gain, after a 0.3% fall the previous month.

A separate report showed that consumer price inflation in Japan rose at an annualized rate of 2.0% in February, compared to expectations for 2.1% and down from 2.2% in January.

Data also showed that Japan's retail sales dropped at an annualized rate of 1.8% last month, confounding expectations for a 1.5% decline, after a 2.0% drop in January.

The Australian and New Zealand remained broadly weaker, with AUD/USD tumbling 0.91% to 0.7757 and NZD/USD retreating 0.49% to 0.7562. Meanwhile, USD/CAD gained 0.41% to 1.2535.

The commodity-linked loonie also weakened on the back of dropping oil prices, as upbeat U.S. data overshadowed concerns over a supply disruption in the Middle East following news Saudi Arabia launched air strikes in Yemen this week to counter Iran-backed Houthi rebels.

Dollar remains moderately higher after U.S. data, eyes on Yellen
 

Related Articles

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.
Comments (1)
Binární Opce
Binární Opce Mar 28, 2015 12:37PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I really thought that the dollar would break the 1.0000 barrier quicker.
 
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