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Forex News: Dollar Little Changed On Light Data Day

Dollar Little Changed On Light Data Day

01/08/2018 - 14:33:00 (RTTNews)

(RTTNews) - The dollar is up against the Euro Monday afternoon, but is nearly unchanged against both the British pound and the Japanese Yen after reversing early gains. The lack of U.S. economic data is keeping some investors on the sidelines at the start of the new trading week. Things will remain rather light on the economic front until mid-week.

The dollar has climbed to a 1-week high of $1.1960 against the Euro Monday afternoon, from an early low of $1.2052.

Eurozone investor confidence strengthened more than expected in January, survey data from think tank Sentix showed Monday. The investor sentiment index climbed to 32.9 in January from 31.1 in December. The reading was forecast to rise moderately to 31.2.

Eurozone economic confidence improved further in December, survey results from European Commission showed Monday. The economic confidence index rose more-than-expected to 116 from 114.6 in November. This was the highest score since October 2000 and above the forecast of 114.7.

Eurozone retail sales rebounded strongly in November, surpassing economists' expectations, preliminary data from Eurostat showed Monday. Retail sales grew a calendar and seasonally-adjusted 1.5 percent from October, when they fell 1.1 percent. Economists had expected 1.2 percent growth.

Germany's factory orders declined for the first time in four months in November as both domestic and foreign demand deteriorated.

Factory orders decreased by a larger-than-expected 0.4 percent month-on-month, reversing a revised 0.7 percent rise in October, data from Destatis revealed Monday. Orders were forecast to drop 0.2 percent and this was the first decrease in orders since July.

The buck rose to an early high of $1.3521 against the pound sterling Monday, but has since retreated to around $1.3565.

UK house price growth slowed sharply in December and prices declined from the previous month, preliminary data from the Lloyds bank subsidiary Halifax and IHS Markit showed Monday. The house price index rose 2.7 percent year-on-year following 3.9 percent increase in the previous month. The latest increase was the smallest since August, when prices grew 2.6 percent.

The greenback climbed to over a 1-week high of Y113.386 against the Japanese Yen this morning, but has since pulled back to around Y113.040.

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