FOREX TradingCharts.com

Forex News: Dollar Mixed As Investors Turn Cautious

Dollar Mixed As Investors Turn Cautious

04/03/2017 - 14:46:00 (RTTNews)

(RTTNews) - The dollar is turning in a mixed performance against its major competitors Monday afternoon, but is little changed overall. Traders have turned cautious at the start of the new trading week, ahead of a number of major events later in the week.

Central banks will be in focus around mid-week. The Federal Reserve will release the minutes from its March meeting on Wednesday and the European Central Bank will release the minutes from their March meeting on Thursday. Traders are hoping that the Fed minutes will shed some light on the central bank's outlook on interest rates.

The U.S. employment report for March is also slated to be released Friday morning. Also at the end of the trading week, President Trump is due to meet with Chinese President Xi Jinping.

Activity in the U.S. manufacturing sector continued to expand in the month of March, according to a report released by the Institute for Supply Management on Monday, although the pace of growth slowed compared to the previous month.

The ISM said its purchasing managers index dipped to 57.2 in March from 57.7 in February, although a reading above 50 still indicates growth in the manufacturing sector. Economists had expected the index to slip to 57.0.

After reporting a drop in U.S. construction spending in the previous month, the Commerce Department released a report on Monday showing that construction spending rebounded in the month of February.

The report said construction spending climbed by 0.8 percent to an annual rate of $1.193 trillion in February after falling by 0.4 percent to a revised $1.184 trillion in January. Economists had expected spending to jump by 1.0 percent compared to the 1.0 percent slump originally reported for the previous month.

The dollar has dipped to around $1.0665 against the Euro this afternoon, from an early high of $1.0643.

Eurozone factory activity grew at the fastest pace in almost six years in March, as initially estimated, final data from IHS Markit showed Monday. The factory Purchasing Managers' Index rose to a 71-month high of 56.2 in March, in line with flash estimate, from 55.4 in February.

The euro area unemployment rate dropped to the lowest level in nearly eight years in February, data from Eurostat showed Monday. The jobless rate fell marginally to 9.5 percent in February, in line with expectations, from 9.6 percent in January. This was the lowest rate since May 2009.

Eurozone producer price inflation accelerated at a faster-than-expected pace in February to the highest level in more than five years, data from Eurostat showed Monday.

Industrial producer prices climbed 4.5 percent year-over-year in February, faster than the 3.9 percent rise in January, which was revised from a 3.5 percent increase reported earlier. Economists had expected a 4.4 percent price growth for the month.

The buck has risen to around $1.2475 against the pound sterling this afternoon, from a low of $1.2553 this morning.

British manufacturing growth moderated unexpectedly in March to the weakest level in four months, survey results from IHS Markit and Chartered Institute of Procurement & Supply showed Monday.

The Markit/CIPS purchasing managers' index for the manufacturing sector dropped to 54.2 in March from 54.5 in February, which was revised down from 54.6. In contrast, economists had expected the index to rise to 55.0.

The UK private sector growth slowed slightly in the three months to March, the latest growth indicator from the Confederation of British Industry showed Sunday. The growth indicator balance came in at +11 percent versus +15 percent in three months to February.

The greenback has dropped to around Y110.975 against the Japanese Yen this afternoon, from a high of Y111.586 this morning.

The manufacturing sector in Japan continued to expand in March, although at a slower pace, the latest survey from Nikkei showed on Monday with a manufacturing PMI score of 52.4. That's down from 53.3 in February, 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) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


NZ Dollar Advances Against Majors (22 min(s), 07 sec(s) ago)
(RTTNews) - The New Zealand dollar strengthened against the other major currencies in the Asian se ...Full Story»

Australian Dollar Rises Against Most Majors (46 min(s), 07 sec(s) ago)
(RTTNews) - The Australian dollar strengthened against most major currencies in the Asian session ...Full Story»

Dollar Little Changed On Light Data Day (19 min(s), 53 sec(s) ago)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Wednesday aftern ...Full Story»

Dollar Extends Gain After Mnuchin's Remarks (04 min(s), 53 sec(s) ago)
(RTTNews) - The U.S. dollar extended early gain against its most major rivals in early New York de ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales (04 min(s), 53 sec(s) ago)
(RTTNews) - Statistics Canada releases Canada retail sales for February at 8:30 am ET Wednesday. A ...Full Story»

Euro Weakens Against Majors (52 min(s), 53 sec(s) ago)
(RTTNews) - The euro slipped against its major opponents in the European session on Wednesday. ...Full Story»

U.S. Dollar Recovers Ahead Of Trump's Tax Reform Announcement (55 min(s), 53 sec(s) ago)
(RTTNews) - The U.S. dollar trimmed its early losses against its major rivals in early deals on We ...Full Story»

U.S. Dollar Climbs Against Majors (49 min(s), 54 sec(s) ago)
(RTTNews) - Reversing direction, the U.S. dollar advanced against its major counterparts in early ...Full Story»

Search

FOREX NEWS

NZ Dollar Advances Against Majors

04/27/2017 - 00:59 AM (RTTNews)
(RTTNews) - The New Zealand dollar strengthened against the other major currencies in the Asian se ...Full Story>>

Australian Dollar Rises Against Most Majors

04/27/2017 - 00:34 AM (RTTNews)
(RTTNews) - The Australian dollar strengthened against most major currencies in the Asian session ...Full Story>>

Dollar Little Changed On Light Data Day

04/26/2017 - 14:41 PM (RTTNews)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Wednesday aftern ...Full Story>>

Dollar Extends Gain After Mnuchin's Remarks

04/26/2017 - 10:25 AM (RTTNews)
(RTTNews) - The U.S. dollar extended early gain against its most major rivals in early New York de ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales

04/26/2017 - 08:26 AM (RTTNews)
(RTTNews) - Statistics Canada releases Canada retail sales for February at 8:30 am ET Wednesday. A ...Full Story>>
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.