FOREX TradingCharts.com

Forex News: Dollar Trading Mixed After Mixed Housing Report

Dollar Trading Mixed After Mixed Housing Report

06/19/2018 - 14:55:00 (RTTNews)

(RTTNews) - The dollar is turning in a mixed performance against its major rivals Tuesday afternoon. The buck is up against its major European rivals, but is down slightly against the Japanese Yen. There was only one U.S. economic report this morning, the results of which proved mixed.

While the Commerce Department released a report on Tuesday showing a much bigger than expected jump in new residential construction in the U.S. in the month of May, the report also showed a much steeper than expected drop in building permits.

The report said housing starts soared by 5.0 percent to an annual rate of 1.350 million in May after tumbling by 3.1 percent to a revised rate of 1.286 million in April. Economists had expected housing starts to climb by 1.8 percent to a rate of 1.310 million from the 1.287 million originally reported for the previous month.

Meanwhile, the Commerce Department said building permits plunged by 4.6 percent to an annual rate of 1.301 million in May after falling by 0.9 percent to a revised rate of 1.364 million in April.

Building permits, an indicator of future housing demand, had been expected to edge down by 0.1 percent to a rate of 1.350 million from the 1.352 million originally reported for the previous month.

European Central Bank President Mario Draghi reiterated on Tuesday that the bank will adopt a patient approach to tightening policy and stands ready to adjust all its policy tools when needed.

"We will remain patient in determining the timing of the first rate rise and will take a gradual approach to adjusting policy thereafter," Draghi said in a speech at a central banking conference in Sintra, Portugal.

"The path of very short-term interest rates that is implicit in the term structure of today's money market interest rates broadly reflects these principles."

The dollar climbed to an early high of $1.1530 against the Euro Tuesday, but has since retreated to around $1.1575.

The euro area current account surplus declined to a 10-month low in April, the European Central Bank reported Tuesday. The current account surplus fell to EUR 28.4 billion in April from EUR 32.8 billion in March. This was the lowest surplus since June 2017.

Eurozone construction output increased in April, after falling in the previous three months, data from Eurostat showed Tuesday. Construction output advanced 1.8 percent month-over-month in April, reversing a revised 0.2 percent drop in March.

The buck has risen to a 7-month high of $1.3170 against the pound sterling this afternoon, from an early low of $1.3272.

The greenback dropped to a low of Y109.548 against the Japanese Yen Tuesday morning, but has since rebounded to around Y110.065.

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 On Trump And Bullard Comments (05 hr(s), 40 min(s), 51 sec(s) ago)
(RTTNews) - The dollar is losing ground against its major rivals Friday afternoon. On a quiet day ...Full Story»

U.S. Dollar Extends Decline After Fed Bullard Suggests To Put Off Hikes (08 hr(s), 58 min(s), 51 sec(s) ago)
(RTTNews) - The U.S. dollar extended its early slide against its major counterparts in the New Yor ...Full Story»

Canadian Dollar Climbs After Strong Inflation, Retail Sales Data (10 hr(s), 10 min(s), 51 sec(s) ago)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in early New York deal ...Full Story»

Loonie Advances After Canada Retail Sales, Consumer Inflation (11 hr(s), 28 min(s), 51 sec(s) ago)
(RTTNews) - Canada retail sales for May and consumer inflation for June have been released from St ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales, Consumer Inflation (11 hr(s), 31 min(s), 51 sec(s) ago)
(RTTNews) - Canada retail sales for May and consumer inflation for June are due from Statistics Ca ...Full Story»

Canadian Dollar Advances Against Most Majors (12 hr(s), 43 min(s), 51 sec(s) ago)
(RTTNews) - The Canadian dollar climbed against its most major counterparts in the European sessio ...Full Story»

Pound Little Changed After U.K. Public Sector Finance Data (15 hr(s), 22 min(s), 51 sec(s) ago)
(RTTNews) - Following the release of U.K. public sector finance data for June at 4:30 am ET Friday ...Full Story»

U.S. Dollar Falls On Trump's Comments (15 hr(s), 58 min(s), 51 sec(s) ago)
(RTTNews) - The U.S. dollar slipped against its major counterparts in the Asian session on Friday, ...Full Story»

Search

FOREX NEWS

Dollar Falling On Trump And Bullard Comments

07/20/2018 - 14:18 PM (RTTNews)
(RTTNews) - The dollar is losing ground against its major rivals Friday afternoon. On a quiet day ...Full Story>>

U.S. Dollar Extends Decline After Fed Bullard Suggests To Put Off Hikes

07/20/2018 - 11:00 AM (RTTNews)
(RTTNews) - The U.S. dollar extended its early slide against its major counterparts in the New Yor ...Full Story>>

Canadian Dollar Climbs After Strong Inflation, Retail Sales Data

07/20/2018 - 09:50 AM (RTTNews)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in early New York deal ...Full Story>>

Loonie Advances After Canada Retail Sales, Consumer Inflation

07/20/2018 - 08:32 AM (RTTNews)
(RTTNews) - Canada retail sales for May and consumer inflation for June have been released from St ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales, Consumer Inflation

07/20/2018 - 08:27 AM (RTTNews)
(RTTNews) - Canada retail sales for May and consumer inflation for June are due from Statistics Ca ...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.