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Forex News: Dollar Mixed As Investors Await Data

Dollar Mixed As Investors Await Data

09/10/2018 - 14:48:00 (RTTNews)

(RTTNews) - The dollar is turning in a mixed performance against its major rivals Monday afternoon. The lack of U.S. economic data is keeping some investors on the sidelines at the start of the new trading week.

Things will begin to pick up on the economic front on Wednesday. The producer price index will be released Wednesday morning and the Beige Book is set to be released in the afternoon.

The dollar rose to an early high of $1.1526 against the Euro Monday, but has since retreated to around $1.16.

Eurozone investor confidence deteriorated unexpectedly in September, survey data from think tank Sentix showed Monday. The investor sentiment index fell to 12.0 in September from 14.7 in August. The score was forecast to rise to 15.0.

The buck reached a high of $1.2896 against the pound sterling Monday morning, but has since pulled back to around $1.3030.

The UK economy expanded at the fastest pace in almost a year in July as warm weather boosted retail sales amid a recovery in construction.

Gross domestic product grew 0.6 percent in three months to July, the fastest since August 2017, data from the Office for National Statistics revealed Monday. The rate was faster than the expected 0.5 percent and 0.4 percent posted in the second quarter.

UK industrial production logged a marginal less-than-expected growth in July, the Office for National Statistics reported Monday.

Industrial output climbed 0.1 percent in July from June due primarily to a rise in mining and quarrying of 3.3 percent. Economists had forecast industrial output to gain 0.2 percent in July.

The UK visible trade deficit narrowed in July, the Office for National Statistics said Monday. The deficit on trade in goods fell to GBP 9.97 billion from GBP 10.68 billion in June. At the same time, the surplus on services increased to GBP 9.8 billion from GBP 9.7 billion a month ago.

The greenback has climbed to around Y111.190 against the Japanese Yen this afternoon, from an early low of Y110.850.

Japan's gross domestic product climbed 3.0 percent on year in the second quarter of 2018, the Cabinet Office said on Monday. That beat forecasts for 2.6 percent and was up from the previous reading of 1.9 percent.

Japan had a current account surplus of 2,009.7 billion yen in July, the Ministry of Finance said on Monday. That beat forecasts for a surplus of 1,893.2 billion yen and was up from 1,175.6 billion yen in June.

Overall bank lending in Japan was up 2.2 percent on year in August, the Bank of Japan said on Monday - coming in at 526.912 trillion yen. That follows the 2.0 percent increase in July.

A measure of peoples' assessment of the Japanese economy improved more-than-expected in August, survey figures from the Cabinet Office showed Monday. The current index of Economy Watchers' survey rose to a 4-month high of 48.7 in August from a 22-month low of 46.6 in July. The index was forecast to increase to 47.0.

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