FOREX TradingCharts.com

Forex News: Dollar Mixed Ahead Of Employment Report

Dollar Mixed Ahead Of Employment Report

05/31/2018 - 14:01:00 (RTTNews)

(RTTNews) - The dollar is turning in a mixed performance against its major rivals Thursday afternoon. The buck is down against its major European rivals, but is up slightly against the Japanese Yen. Traders are looking forward to the release of the U.S. jobs report for May tomorrow morning, but are also focused on trade.

The Trump administration revealed plans to re-impose steel and aluminum tariffs on Canada, Mexico and the European Union. Commerce Secretary Wilbur Ross told reporters the tariffs of 25 percent on steel imports and 10 percent on aluminum imports will take effect at midnight.

Personal income in the U.S. increased in line with economist estimates in the month of April, according to a report released by the Commerce Department on Thursday, while personal spending climbed by more than anticipated.

The Commerce Department said personal income rose by 0.3 percent in April after edging up by 0.2 percent in March. The increase in income matched economist estimates.

Meanwhile, the report said personal spending climbed by 0.6 percent in April following a 0.5 percent increase in the previous month. Spending had been expected to rise by 0.4 percent.

A day ahead of the release of the closely watched monthly jobs report, the Labor Department released a report on Thursday showing a bigger than expected decrease in first-time claims for U.S. unemployment benefits in the week ended May 26th.

The report said initial jobless claims fell to 221,000, a decrease of 13,000 from the previous week's unrevised level of 234,000. Economists had expected jobless claims to dip to 228,000.

Pending home sales in the U.S. unexpectedly showed a sharp decrease in the month of April, according to a report released by the National Association of Realtors on Thursday. NAR said its pending home sales index tumbled by 1.3 percent to 106.4 in April after rising by 0.6 percent to 107.2 in March. Economists had expected pending home sales to increase by 0.4 percent.

A report released by MNI Indicators on Thursday showed business activity in the Chicago-area gained significant traction in the month of May. MNI Indicators said its Chicago business barometer jumped to 62.7 in May from 57.6 in April, with a reading above 50 indicating growth. Economists had expected the index to inch up to 58.0.

Italian president, Sergio Mattarella, granted Italy's two populist leaders more time to form a government, helping ease worries that another election will essentially be a referendum on the country's membership of the European Union.

Spanish Prime Minister Mariano Rajoy has insisted he will not resign ahead of Friday's no-confidence vote in the Madrid parliament. The dollar dropped to an early low of $1.1724 against the Euro Thursday, but has since rebounded to around $1.1675.

The euro area unemployment rate declined in April to the lowest since late 2008, Eurostat reported Thursday. The jobless rate fell to 8.5 percent in April from 8.6 percent in March. This was the lowest since December 2008. Nonetheless, the rate was slightly above the expected 8.4 percent.

Eurozone inflation accelerated in May largely on energy prices, flash estimate from Eurostat showed Thursday. Inflation rose more-than-expected to 1.9 percent in May from 1.2 percent in April. The expected rate was 1.6 percent.

France's consumer price inflation accelerated at a faster-than-expected pace in May, mainly driven by higher energy prices, preliminary figures from the statistical office Insee showed Thursday. Consumer prices climbed 2.0 percent year-over-year in May, faster than the 1.6 percent rise in April. Economists had expected the inflation to increase to 1.8 percent.

The buck fell to a low of $1.3347 against the pound sterling Thursday morning, but has since rebounded to around $1.3290.

UK mortgage approvals dropped slightly in April, the Bank of England reported Thursday. Mortgage approvals for house purchases totaled 62,455 versus 62,802 in March. The expected level was 63,500.

UK house prices dropped unexpectedly in May, figures from Nationwide Building Society revealed Thursday. House prices decreased 0.2 percent on a monthly basis in May, in contrast to an increase of 0.1 percent in April. Economists had forecast an increase of 0.2 percent in May.

UK consumer sentiment improved more-than-expected in May, reports said citing survey data from market research group GfK, on Thursday. The consumer sentiment index rose 2 points to -7 in May. The score was forecast to improve marginally to -8.

The greenback reached a high of Y109 against the Japanese Yen Thursday, but has since eased back to around Y108.740.

Industrial output in Japan was up a seasonally adjusted 0.3 percent on month in April, the Ministry of Economy, Trade and Industry said in Thursday's preliminary reading. That was well shy of forecasts for 1.4 percent, which would have been unchanged from, the March reading.

Japan's housing starts rose unexpectedly in April, the Ministry of Land, Infrastructure, Transport and Tourism showed Thursday. Housing starts climbed 0.3 percent year-on-year in April, reversing an 8.3 percent drop in March and confounding expectations for a decline of 8.9 percent. This was the first increase in ten months.

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 Falling After Paring Early Gains (39 min(s), 26 sec(s) ago)
(RTTNews) - The dollar got off to a positive start to the new trading week. However, the buck pare ...Full Story»

Dollar Little Changed After U.S. New Home Sales (05 hr(s), 36 min(s), 26 sec(s) ago)
(RTTNews) - Following the release of U.S. new home sales for May at 10:00 am ET Monday, the greenb ...Full Story»

Dollar Mixed Ahead Of U.S. New Home Sales (05 hr(s), 42 min(s), 26 sec(s) ago)
(RTTNews) - At 10:00 am ET Monday, the Commerce Department is scheduled to release its report on n ...Full Story»

U.S. Dollar Falls On Rising Trade Worries (08 hr(s), 36 min(s), 26 sec(s) ago)
(RTTNews) - The U.S. dollar declined against its major counterparts in the European session on Mon ...Full Story»

Euro Little Changed After German Ifo Business Sentiment Index (11 hr(s), 36 min(s), 26 sec(s) ago)
(RTTNews) - At 4.00 am ET Monday, Germany's Ifo business sentiment survey results have been re ...Full Story»

Euro Falls Vs Most Majors Ahead Of German Ifo Survey (11 hr(s), 42 min(s), 26 sec(s) ago)
(RTTNews) - At 4.00 am ET Monday, Germany's Ifo business sentiment survey results are due. The ...Full Story»

Yen Advances Amid Rising Risk Aversion On Trade Worries (12 hr(s), 21 min(s), 26 sec(s) ago)
(RTTNews) - The Japanese yen strengthened against its major counterparts in the Asian session on M ...Full Story»

Yen Climbs Against Majors (13 hr(s), 15 min(s), 26 sec(s) ago)
(RTTNews) - The Japanese yen strengthened against its major counterparts in the Asian session on M ...Full Story»

Search

FOREX NEWS

Dollar Falling After Paring Early Gains

06/25/2018 - 14:58 PM (RTTNews)
(RTTNews) - The dollar got off to a positive start to the new trading week. However, the buck pare ...Full Story>>

Dollar Little Changed After U.S. New Home Sales

06/25/2018 - 10:02 AM (RTTNews)
(RTTNews) - Following the release of U.S. new home sales for May at 10:00 am ET Monday, the greenb ...Full Story>>

Dollar Mixed Ahead Of U.S. New Home Sales

06/25/2018 - 09:55 AM (RTTNews)
(RTTNews) - At 10:00 am ET Monday, the Commerce Department is scheduled to release its report on n ...Full Story>>

U.S. Dollar Falls On Rising Trade Worries

06/25/2018 - 07:00 AM (RTTNews)
(RTTNews) - The U.S. dollar declined against its major counterparts in the European session on Mon ...Full Story>>

Euro Little Changed After German Ifo Business Sentiment Index

06/25/2018 - 04:02 AM (RTTNews)
(RTTNews) - At 4.00 am ET Monday, Germany's Ifo business sentiment survey results have been re ...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.