FOREX TradingCharts.com

Forex News: Dollar Little Changed Despite Tariff News

Dollar Little Changed Despite Tariff News

03/22/2018 - 14:49:00 (RTTNews)

(RTTNews) - The dollar is turning in a mixed performance against its major rivals Thursday afternoon but remains little changed overall. Investors continue to digest yesterday's statement from the Federal Reserve, but have also been preoccupied by today's announcement that President Trump has hit China with $50 billion in tariffs.

A report released by the Labor Department on Thursday showed a modest uptick in first-time claims for U.S. unemployment benefits in the week ended March 17th. The report said initial jobless claims edged up to 229,000, an increase of 3,000 from the previous week's unrevised level of 226,000. Economists had expected jobless claims to dip to 225,000.

Despite a sharp downturn in stock markets and weakness in housing construction, the Conference Board released a report on Thursday showing a bigger than expected increase by its index of leading U.S. economic indicators.

The Conference Board said its leading economic index climbed by 0.6 percent following a 0.8 percent increase in January. Economists had expected the index to rise by 0.3 percent.

The dollar slid to an early low of $1.2388 against the Euro Thursday, but has since climbed to around $1.2315.

The euro area private sector expanded at the weakest pace in more than a year in March, flash data from IHS Markit showed Thursday.

The composite output index dropped to 55.3 in March from 57.1 in February. The score signaled the weakest growth in the private sector since January 2017. The reading was expected to ease moderately to 56.8.

The euro area current account surplus increased notably at the start of the year, data from the European Central Bank showed Thursday. The current account surplus rose to a 4-month high of EUR 37.6 billion in January from EUR 31.0 billion in December.

German business sentiment deteriorated to an 11-month low in March as firms were less optimistic about the months ahead due to fears of trade conflicts led by the US, survey data from the Munich-based Ifo Institute showed Thursday.

The business climate index dropped to 114.7 from 115.4 in February, Ifo said. The score was forecast to fall to 114.6.

Germany's private sector expanded at a slower pace in March, flash data from IHS Markit showed Thursday. The composite output index fell to an eight-month low of 55.4 from 57.6 in February. The reading was also below the forecast of 57.0.

France's private sector growth softened in March as both manufacturing and services expanded at weaker rates, flash data from IHS Markit showed Thursday. The composite output index fell to 56.2 in March from 57.3 a month ago. This was the lowest reading in seven months and below the forecast of 57.0.

France's manufacturing confidence weakened slightly as expected in March, but remained very favorable, survey data from the statistical office Insee showed Thursday. The manufacturing confidence index dropped to 111 in March from 112 in February.

The Monetary Policy Committee of the Bank of England decided to leave the benchmark rate unchanged in a split vote, bolstering hopes for a possible rate hike in May.

At the rate-setting meeting, the Monetary Policy Committee, governed by Mark Carney, voted 7-2 to maintain the benchmark rate at 0.50 percent. The bank had previously raised its key rate in November 2017, which was the first hike in a decade.

Policymakers unanimously decided to maintain the quantitative easing at GBP 435 billion.

All members agreed that any future increases in bank rate are likely to be at a gradual pace and to a limited extent. The buck fell to a low of $1.4214 against the pound sterling Thursday morning, but has since rebounded to around $1.4115.

UK retail sales rebounded at a faster than expected pace in February, figures from the Office for National Statistics revealed Thursday. Retail sales volume grew 0.8 percent month-on-month in February, in contrast to a 0.2 percent drop in January. Sales were expected to grow moderately by 0.3 percent.

The greenback dropped to a low of Y105.259 against the Japanese Yen Thursday, but has since bounced back to around Y105.650.

The manufacturing sector in Japan continued to expand in March, albeit at a slower pace, the latest survey from Nikkei revealed on Thursday with a manufacturing PMI score of 53.2. That's down from 54.1 in February, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Japan's all industry activity decreased for the first time in four months in January, in line with expectations, data from the Ministry of Economy, Trade and Industry showed Thursday. The all industry activity index fell 1.8 percent month-over-month in January, reversing a 0.6 percent rise in December.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed After U.S. Consumer Confidence Index (02 hr(s), 01 min(s), 01 sec(s) ago)
(RTTNews) - Following the release of U.S. consumer confidence data for April at 10.00 am ET Tuesda ...Full Story»

Dollar Mixed Ahead Of U.S. Consumer Confidence Index (02 hr(s), 07 min(s), 01 sec(s) ago)
(RTTNews) - The Conference Board's Consumer Confidence data for April will be published at 10. ...Full Story»

Yen Falls Against Majors (02 hr(s), 43 min(s), 01 sec(s) ago)
(RTTNews) - The Japanese yen declined against its major counterparts in the European session on Tu ...Full Story»

Euro Falls As German Business Sentiment Weakens (05 hr(s), 13 min(s), 01 sec(s) ago)
(RTTNews) - The euro dropped against its major counterparts in European deals on Tuesday, as Germa ...Full Story»

Pound Little Changed After U.K. Public Sector Finance Data (07 hr(s), 31 min(s), 01 sec(s) ago)
(RTTNews) - At 4.30 am ET Tuesday, the Office for National Statistics has issued UK public sector ...Full Story»

Pound Falls Vs Most Majors Ahead Of U.K. Public Sector Finance Data (07 hr(s), 37 min(s), 01 sec(s) ago)
(RTTNews) - At 4.30 am ET Tuesday, the Office for National Statistics is set to issue UK public se ...Full Story»

Euro Little Changed Following German Ifo Business Sentiment Index (08 hr(s), 01 min(s), 01 sec(s) ago)
(RTTNews) - At 4.00 am ET Tuesday, Germany's Ifo business sentiment survey data has been relea ...Full Story»

Euro Retreats Ahead Of German Ifo Business Sentiment Index (08 hr(s), 10 min(s), 01 sec(s) ago)
(RTTNews) - At 4.00 am ET Tuesday, Germany's Ifo business sentiment survey data is due. Econom ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. Consumer Confidence Index

04/24/2018 - 10:03 AM (RTTNews)
(RTTNews) - Following the release of U.S. consumer confidence data for April at 10.00 am ET Tuesda ...Full Story>>

Dollar Mixed Ahead Of U.S. Consumer Confidence Index

04/24/2018 - 09:57 AM (RTTNews)
(RTTNews) - The Conference Board's Consumer Confidence data for April will be published at 10. ...Full Story>>

Yen Falls Against Majors

04/24/2018 - 09:22 AM (RTTNews)
(RTTNews) - The Japanese yen declined against its major counterparts in the European session on Tu ...Full Story>>

Euro Falls As German Business Sentiment Weakens

04/24/2018 - 06:53 AM (RTTNews)
(RTTNews) - The euro dropped against its major counterparts in European deals on Tuesday, as Germa ...Full Story>>

Pound Little Changed After U.K. Public Sector Finance Data

04/24/2018 - 04:33 AM (RTTNews)
(RTTNews) - At 4.30 am ET Tuesday, the Office for National Statistics has issued UK public sector ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.