FOREX TradingCharts.com

Forex News: U.S. Dollar Climbs After Solid Retail Sales Data

U.S. Dollar Climbs After Solid Retail Sales Data

05/15/2018 - 09:52:00 (RTTNews)

(RTTNews) - The U.S. dollar drifted higher against its key counterparts in the European session on Tuesday, as the nation's retail sales increased in line with economist estimates in April and investors focused on the next round of talks between China and the U.S. taking place in Washington this week.

Data from the Commerce Department showed that the retail sales rose by 0.3 percent in April after climbing by an upwardly revised 0.8 percent in March.

Economists had expected sales to rise by 0.3 percent.

Excluding a modest increase in auto sales, retail sales still rose by 0.3 percent in April following an upwardly revised 0.4 percent increase in March.

Ex-auto sales have been expected to climb by 0.5 percent.

A separate report released by the New York Federal Reserve showed an unexpected acceleration in the pace of growth in regional manufacturing activity in the month of May.

The New York Fed said its general business conditions index jumped to 20.1 in May from 15.8 in April, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to edge down to 15.5.

The currency has been trading in a positive territory against its major counterparts in the Asian session.

The greenback spiked up to 0.6871 against the kiwi, its strongest since December 2017. If the greenback continues its rise, 0.67 is possibly seen as its next resistance level.

The greenback strengthened to 5-day highs of 1.2907 against the loonie and 0.7462 against the aussie, off its early lows of 1.2792 and 0.7538, respectively. The greenback is seen finding resistance around 1.30 against the loonie and 0.73 against the aussie.

Reversing from an early low of 0.9992 against the franc, the greenback firmed to a 4-day high of 1.0037. Next key resistance for the greenback is likely seen around the 1.02 level.

The greenback strengthened to 110.30 against the yen, a level unseen since February 2. The next possible resistance for the greenback is seen around the 112.00 level.

Data from the Ministry of Economy, Trade and Industry showed that Japan's tertiary activity index decreased at a faster-than-expected pace in March.

The tertiary activity index dropped 0.3 percent month-over-month in March, reversing a 0.1 percent rise in February. Economists had expected a 0.2 percent fall for the month.

The greenback approached a 5-day high of 1.3479 against the pound, after having fallen to 1.3572 at 9:45 pm ET. The greenback is likely to find resistance around the 1.33 region.

Data from the Office for National Statistics showed that the UK unemployment rate remained unchanged at the lowest level since 1975.

The ILO jobless rate remained at 4.2 percent in the first quarter, but down from 4.6 percent a year ago. This was the joint lowest since 1975.

The U.S. currency climbed to a 6-day high of 1.1832 against the euro, following a decline to 1.1938 at 9:45 pm ET. On the upside, 1.17 is likely seen as the next resistance level for the greenback.

Flash estimate from Eurostat showed that Eurozone economy expanded at a slower pace as previously estimated in the first quarter.

Gross domestic product grew 0.4 percent sequentially in the first quarter, slower than the 0.7 percent expansion seen a quarter ago.

The U.S. business inventories for March is scheduled for release at 10:00 am ET.

At 12:45 pm ET, San Francisco Fed President John Williams speaks at the Economic Club of Minnesota May Luncheon in Minneapolis.

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 Slightly Down Vs Most Majors After U.S. Consumer Sentiment Index (49 min(s), 02 sec(s) ago)
(RTTNews) - At 10:00 am ET Friday, the University of Michigan has released its revised reading on ...Full Story»

U.S. Dollar Climbs On N.Korean Response To Trump's Cancellation Of Summit (55 min(s), 01 sec(s) ago)
(RTTNews) - The U.S. dollar advanced against its most major rivals in the early New York session o ...Full Story»

Dollar Little Changed After U.S. Durable Goods Orders (02 hr(s), 22 min(s), 02 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, the Commerce Department has released U.S. durable goods orders f ...Full Story»

Dollar Rises Vs Most Majors Ahead Of U.S. Durable Goods Orders (02 hr(s), 31 min(s), 01 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, the Commerce Department will release U.S. durable goods orders f ...Full Story»

Canadian Dollar Weakens On Falling Oil Prices (03 hr(s), 13 min(s), 02 sec(s) ago)
(RTTNews) - The Canadian dollar slipped against its major counterparts in the European session on ...Full Story»

Euro Climbs After Better Than Expected German Business Confidence Index (05 hr(s), 13 min(s), 02 sec(s) ago)
(RTTNews) - The euro advanced against its major counterparts in early European deals on Friday, fo ...Full Story»

Pound Rises Vs Most Majors After U.K. GDP Data (06 hr(s), 22 min(s), 02 sec(s) ago)
(RTTNews) - After the release of second estimate of the UK GDP data at 4:30 am ET Friday, the poun ...Full Story»

Pound Falls Ahead Of U.K. GDP Data (06 hr(s), 31 min(s), 02 sec(s) ago)
(RTTNews) - The Office for National Statistics releases second estimate for the UK GDP at 4:30 am ...Full Story»

Search

FOREX NEWS

Dollar Slightly Down Vs Most Majors After U.S. Consumer Sentiment Index

05/25/2018 - 10:06 AM (RTTNews)
(RTTNews) - At 10:00 am ET Friday, the University of Michigan has released its revised reading on ...Full Story>>

U.S. Dollar Climbs On N.Korean Response To Trump's Cancellation Of Summit

05/25/2018 - 10:00 AM (RTTNews)
(RTTNews) - The U.S. dollar advanced against its most major rivals in the early New York session o ...Full Story>>

Dollar Little Changed After U.S. Durable Goods Orders

05/25/2018 - 08:33 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, the Commerce Department has released U.S. durable goods orders f ...Full Story>>

Dollar Rises Vs Most Majors Ahead Of U.S. Durable Goods Orders

05/25/2018 - 08:26 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, the Commerce Department will release U.S. durable goods orders f ...Full Story>>

Canadian Dollar Weakens On Falling Oil Prices

05/25/2018 - 07:44 AM (RTTNews)
(RTTNews) - The Canadian dollar slipped against its major counterparts in the European session on ...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.