FOREX TradingCharts.com

Forex News: Dollar Mixed After Fed Maintains Rates

Dollar Mixed After Fed Maintains Rates

08/01/2018 - 14:34:00 (RTTNews)

(RTTNews) - The dollar is turning in a mixed performance against its major rivals Wednesday afternoon. Following a two-day meeting of the Federal Open Market Committee, the Federal Reserve on Wednesday announced its widely expected decision to leave interest rates unchanged.

In view of realized and expected labor market conditions and inflation, the Fed said it decided to maintain the target range for the federal funds rate at 1.75 to 2 percent.

With the release of the Labor Department's more closely watched monthly jobs report looming on Friday, payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by much more than expected in the month of July.

ADP said private sector employment jumped by 219,000 jobs in July after climbing by an upwardly revised 181,000 jobs in June.

Economists had expected an increase of about 185,000 jobs compared to the addition of 177,000 jobs originally reported for the previous month.

Partly reflecting slowdowns in new orders and production growth, the Institute for Supply Management released a report on Wednesday showing growth in U.S. manufacturing activity slowed by more than anticipated in the month of July.

The ISM said its purchasing managers index fell to 58.1 in July after unexpectedly climbing to 60.2 in June. While a reading above 50 still indicates growth in the manufacturing sector, economists had expected the index to show a more modest drop to 59.5.

Construction spending in the U.S. showed a significant decrease in the month of June, according to a report released by the Commerce Department on Wednesday. The Commerce Department said construction spending slumped by 1.1 percent to an annual rate of $1.317 trillion in June from a revised rate of $1.332 trillion in May.

While economists had expected construction spending to rise by 0.3 percent, the revised data for May showed a 1.3 percent jump in spending compared to the previously reported 0.4 percent increase.

The dollar slid to a low of $1.1699 against the Euro Wednesday, but has since climbed to around $1.1670.

Eurozone manufacturing activity remained subdued at the start of the third quarter, as initially estimated, final data from IHS Markit showed Wednesday. The factory Purchasing Managers' Index rose to 55.1 in July, in line with flash estimate, from 54.9 in June.

The buck fell to a low of $1.3144 against the pound sterling Wednesday, but has since risen to around $1.3125.

The UK manufacturing sector expanded at the slowest pace in three months in July, survey data from IHS Markit and Chartered Institute of Procurement & Supply showed Wednesday. The manufacturing Purchasing Managers' Index dropped to 54.0 in July from 54.3 in June. However, any reading above 50 indicates growth in the sector.

UK house prices increased at a faster pace in July, data from Nationwide Building Society showed Wednesday. House prices advanced 2.5 percent year-on-year in July, faster than the 2 percent rise in June. House price growth was forecast to ease to 1.8 percent.

The greenback reached an early high of Y112.150 against the Japanese Yen Wednesday, but has since retreated to around Y111.450.

The manufacturing sector in Japan continued to expand in July, albeit at a slower pace, the latest survey from Nikkei revealed on Wednesday with a PMI score of 52.3. That's down from 53.0 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

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 Recovers After Early Dip (17 min(s), 06 sec(s) ago)
(RTTNews) - The dollar got off to a weak start against its major rivals Tuesday, but has since sta ...Full Story»

U.S. Dollar Weakens Against Most Majors (05 hr(s), 02 min(s), 06 sec(s) ago)
(RTTNews) - The U.S. dollar fell against its most major counterparts in the European session on Tu ...Full Story»

Dollar Little Changed After U.S. Import And Export Prices (06 hr(s), 29 min(s), 06 sec(s) ago)
(RTTNews) - The Labor Department's Import and Export Prices for July have been issued at 8.30 ...Full Story»

Dollar Mixed Ahead Of U.S. Import And Export Prices (06 hr(s), 35 min(s), 06 sec(s) ago)
(RTTNews) - The Labor Department's Import and Export Prices for July will be issued at 8.30 am ...Full Story»

Pound Climbs As U.K. Jobless Rate Falls To 43-year Low (08 hr(s), 32 min(s), 06 sec(s) ago)
(RTTNews) - The pound spiked up against its major counterparts in the European session on Tuesday, ...Full Story»

Euro Little Changed After German ZEW Survey, Eurozone Data (09 hr(s), 53 min(s), 06 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Germany's ZEW economic confidence survey data for August, e ...Full Story»

Euro Retreats Ahead Of German ZEW Survey, Eurozone Data (10 hr(s), 08 min(s), 06 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Germany's ZEW economic confidence survey data for August, e ...Full Story»

Pound Advances Further After U.K. Labor Data (10 hr(s), 26 min(s), 06 sec(s) ago)
(RTTNews) - At 4.30 am ET Tuesday, the Office for National Statistics has published UK labor marke ...Full Story»

Search

FOREX NEWS

Dollar Recovers After Early Dip

08/14/2018 - 14:45 PM (RTTNews)
(RTTNews) - The dollar got off to a weak start against its major rivals Tuesday, but has since sta ...Full Story>>

U.S. Dollar Weakens Against Most Majors

08/14/2018 - 10:02 AM (RTTNews)
(RTTNews) - The U.S. dollar fell against its most major counterparts in the European session on Tu ...Full Story>>

Dollar Little Changed After U.S. Import And Export Prices

08/14/2018 - 08:33 AM (RTTNews)
(RTTNews) - The Labor Department's Import and Export Prices for July have been issued at 8.30 ...Full Story>>

Dollar Mixed Ahead Of U.S. Import And Export Prices

08/14/2018 - 08:27 AM (RTTNews)
(RTTNews) - The Labor Department's Import and Export Prices for July will be issued at 8.30 am ...Full Story>>

Pound Climbs As U.K. Jobless Rate Falls To 43-year Low

08/14/2018 - 06:31 AM (RTTNews)
(RTTNews) - The pound spiked up against its major counterparts in the European session on Tuesday, ...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.