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Forex - Dollar Flat After Fed; Aussie Dollar Falls on Weak China PPI Data

ForexNov 09, 2018 12:26AM ET
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The U.S. dollar was little changed on Friday

Investing.com - The U.S. dollar was little changed on Friday after the Federal Reserve left interest rates on hold as expected. The Aussie dollar slipped after China reported weaker-than-expected China PPI release.

The U.S. dollar index was up 0.08% to 96.58 by 12:26 AM GMT (05:26 GMT). Overnight, the dollar received some support following the Fed announcement as the central bank gave an upbeat assessment of the economy and reaffirmed expectations for a December rate hike.

The Fed maintained its confidence that "economic activity has been rising at a strong rate." GDP growth has averaged 3.3% for the first three quarters in 2018 and markets projected growth for the final three-month to be around 3%.

So far, the Fed has raised rates three times this year and is widely expected to do so again next month.

Meanwhile, the U.S. Department of Labor reported Thursday that initial jobless claims dropped by 12,000 to a seasonally adjusted 215,000 for the week ended Nov. 3, in line with economists' estimates.

The AUD/USD pair slipped 0.2% after China reported a weaker-than-expected PPI data.

The October factory-gate inflation gauge came-in at 3.3%, compared with the expected 3.4% and down from the previous month's reading of 3.6%

Elsewhere, the USD/CNY pair gained 0.2% to 6.9483 as the People's Bank of China (PBOC) set the yuan reference rate at 6.9329 vs the previous day's fix of 6.9163.

The USD/JPY pair was down 0.1% to 113.91.

Forex - Dollar Flat After Fed; Aussie Dollar Falls on Weak China PPI Data
 

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