FOREX TradingCharts.com

Forex News: Dollar Trading Mixed As Central Banks Remain In

Dollar Trading Mixed As Central Banks Remain In Focus

06/28/2017 - 14:36:00 (RTTNews)

(RTTNews) - The dollar is turning in a mixed performance against its major rivals Wednesday afternoon. The buck is losing ground against the pound after a Bank of England official hinted at stimulus removal. Meanwhile, yesterday's comments from ECB President Mario Draghi continue to move the Euro.

The U.S. trade deficit narrowed in May, a hopeful sign for the economy, the U.S. Census Bureau in its advanced report on international trade said Wednesday. The international trade deficit was $65.9 billion in May, down $1.2 billion from $67.1 billion in April.

Pending home sales in the U.S. unexpectedly decreased for the third consecutive month in May, according to a report released by the National Association of Realtors on Wednesday. NAR said its pending home sales index fell by 0.8 percent to 108.5 in May from a downwardly revised 109.4 in April. Economists had expected the index to climb by 0.8 percent.

A media report showed that the market had misinterpreted remarks by the European Central Bank Mario Draghi as a signal towards reducing the monetary stimulus.

Draghi was intending to strike a balance between recognizing the bloc's economic strength and the need for continued monetary support, Bloomberg reported citing ECB officials.

The ECB sources said that Draghi was aiming to strike a balance between the bloc's economic growth and inflationary slowdown and not an imminent policy tightening.

The dollar has fallen to around $1.1375 against the Euro this afternoon, from an early high of $1.1292.

Germany's import price inflation eased at a faster-than-expected pace in May after remaining stable in the prior month, figures from Destatis showed Wednesday. Import prices climbed 4.1 percent year-over-year in May, slower than the 6.1 percent steady rate of increase in April. Economists had expected the inflation to moderate to 4.6 percent.

French consumer confidence strengthened to a decade high in June, survey results from the statistical office Insee showed Wednesday.

The consumer sentiment index rose to 108 in June, the highest since June 2007, from revised 103 in May. A peak of optimism was similarly recorded for previous presidential elections, Insee said. The score was forecast to rise slightly to 103 in June from May's initially estimated value of 102.

Spain's retail sales continued to expand in May, figures from the statistical office INE showed Wednesday. Retail sales grew by adjusted 2.4 percent year-on-year in May, faster than the 1.9 percent rise seen in April.

Monetary stimulus may need to be withdrawn to some extent in future, Bank of England Governor Mark Carney said Wednesday, implying interest rates may be raised, altering his stance from earlier this month when the bank left the interest rate and asset purchases unchanged.

"Some removal of monetary stimulus is likely to become necessary if the trade-off facing the MPC continues to lessen and the policy decision accordingly becomes more conventional," Carney said during a panel discussion at a European Central Bank forum on central banking in Sintra, Portugal.

The buck has dropped to around $1.2935 against the pound sterling this afternoon, from a high of $1.2972 this morning.

UK house prices increased in June after declining for three straight months, the Nationwide Building Society reported Wednesday. House prices advanced 1.1 percent month-on-month, reversing a 0.2 percent fall in May. Economists had forecast a marginal 0.1 percent rise.

The greenback has risen to around Y112.315 against the Japanese Yen this afternoon, from an early low of Y111.792.

Japan's small business confidence improved for the second straight month in June, though slightly, survey data from Shoko Chukin Bank showed Wednesday. The small business confidence rose to 49.2 in June from 48.9 in the previous month. In April, the reading was 48.6.

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


Dollar Little Changed After U.S. New Home Sales (28 min(s), 05 sec(s) ago)
(RTTNews) - Following the release of U.S. new home sales for June at 10:00 am ET Wednesday, the gr ...Full Story»

Dollar Mixed Ahead Of U.S. New Home Sales (37 min(s), 05 sec(s) ago)
(RTTNews) - The U.S. new home sales for June will be released at 10:00 am ET Wednesday. The econom ...Full Story»

U.S. Dollar Falls Ahead Of Fed Decision (02 hr(s), 01 min(s), 05 sec(s) ago)
(RTTNews) - The U.S. dollar dropped against its most major counterparts in the European session on ...Full Story»

Swiss Franc Falls Amid Risk Appetite (03 hr(s), 49 min(s), 05 sec(s) ago)
(RTTNews) - The Swiss franc weakened against other major currencies in the European session on Wed ...Full Story»

Swiss Franc Falls Against Majors (03 hr(s), 58 min(s), 05 sec(s) ago)
(RTTNews) - The Swiss franc weakened against other major currencies in the European session on Wed ...Full Story»

Pound Little Changed After U.K. GDP Data (06 hr(s), 01 min(s), 04 sec(s) ago)
(RTTNews) - At 4:30 am ET Wednesday, the Office for National Statistics published U.K. GDP data fo ...Full Story»

Pound Rises Ahead Of U.K. GDP Data (06 hr(s), 07 min(s), 04 sec(s) ago)
(RTTNews) - At 4:30 am ET Wednesday, the Office for National Statistics publishes U.K. GDP data fo ...Full Story»

Aussie Falls As Australia CPI Rises Less Than Expected (07 hr(s), 22 min(s), 05 sec(s) ago)
(RTTNews) - The Australian dollar weakened against other major currencies in the Asian session on ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. New Home Sales

07/26/2017 - 10:04 AM (RTTNews)
(RTTNews) - Following the release of U.S. new home sales for June at 10:00 am ET Wednesday, the gr ...Full Story>>

Dollar Mixed Ahead Of U.S. New Home Sales

07/26/2017 - 09:55 AM (RTTNews)
(RTTNews) - The U.S. new home sales for June will be released at 10:00 am ET Wednesday. The econom ...Full Story>>

U.S. Dollar Falls Ahead Of Fed Decision

07/26/2017 - 08:31 AM (RTTNews)
(RTTNews) - The U.S. dollar dropped against its most major counterparts in the European session on ...Full Story>>

Swiss Franc Falls Amid Risk Appetite

07/26/2017 - 06:44 AM (RTTNews)
(RTTNews) - The Swiss franc weakened against other major currencies in the European session on Wed ...Full Story>>

Swiss Franc Falls Against Majors

07/26/2017 - 06:33 AM (RTTNews)
(RTTNews) - The Swiss franc weakened against other major currencies in the European session on Wed ...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.