FOREX TradingCharts.com

Forex News: U.S. Dollar Extends Fall Amid Yellen's Speech

U.S. Dollar Extends Fall Amid Yellen's Speech

08/25/2017 - 11:07:00 (RTTNews)

(RTTNews) - The U.S. dollar continued to weaker against its major counterparts in the New York session on Friday, after the Fed Chair Janet Yellen provided no hints on monetary policy and the rate hike moves at her speech in Jackson Hole Economic Symposium, Wyoming. Speaking at the conference, Yellen told that 'core' reforms enacted after the 2008 financial crisis have boosted financial resilience without limiting credit or growth. "The balance of research suggests that the core reforms we have put in place have substantially boosted resilience without unduly limiting credit availability or economic growth," she said. "Any adjustments to the regulatory framework should be modest and preserve the increase in resilience at large dealers and banks associated with the reforms put in place in recent years," Yellen added. The Fed chief was mum on monetary policy, disappointing markets who were hopeful for guidance on interest rate policy. Data from Commerce Department showed that durable goods orders pulled back sharply in the month of July.

The Commerce Department said durable goods orders plunged by 6.8 percent in July after surging up by 6.4 percent in June. Economists had expected durable goods orders to slump by 6.0 percent.

Excluding a steep drop in orders for transportation equipment, durable goods orders increased by 0.5 percent in July after inching up by 0.1 in June. Ex-transportation orders had been expected to rise by 0.4 percent.

The currency fell against its major rivals in the European session, with the exception of the Japanese yen.

The greenback declined to 1.1867 against the euro, a level unseen since August 4. This may be compared to a 2-day high of 1.1773 set at 3:15 am ET. Continuation of the greenback's downtrend may see it challenging support around the 1.20 region.

Survey results from Ifo institute showed that German business confidence weakened slightly from a record high in August.

The business sentiment index fell to 115.9 in August from July's record high of 116. The expected score was 115.5.

Reversing from an early high of 1.2794 against the pound, the greenback weakened to a 3-day low of 1.2865. The greenback is poised to challenge support around the 1.31 mark.

Having advanced to an 8-day high of 109.84 against the Japanese yen at 9:45 am ET, the U.S. currency dropped to 109.26. The greenback is seen finding support around the 108.00 mark.

Data from the Ministry of Internal Affairs and Communications showed that Japan's consumer prices rose 0.4 percent on year in July - in line with expectations and unchanged from the June reading.

Core inflation, which excludes food prices, advanced an annual 0.5 percent - again unchanged and matching forecasts.

The greenback hit a 4-day low of 0.9604 against the Swiss franc, following a high of 0.9663 hit at 3:15 am ET. On the downside, 0.94 is likely seen as the next support for the greenback-franc pair.

The greenback slipped to more than a 3-week low of 1.2499 against the loonie, 8-day low of 0.7954 against the aussie and a 2-day low of 0.7254 against the kiwi, off its early highs of 1.2540, 0.7885 and 0.7197, respectively. The next possible support levels for the greenback are seen around 1.23 against the loonie, 0.81 against the aussie and 0.74 against the kiwi.

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 Weakening As Investors Await Fed Announcement (09 hr(s), 0 min(s),17 sec(s) ago)
(RTTNews) - The dollar is losing ground against all of its major rivals Tuesday afternoon. The Fed ...Full Story»

Dollar Lower After U.S. Economic Data; Fed Decision Awaited (14 hr(s), 12 min(s), 17 sec(s) ago)
(RTTNews) - The U.S. dollar was lower against its most major opponents in the European session on ...Full Story»

Dollar Little Changed After U.S. Economic Data (15 hr(s), 21 min(s), 16 sec(s) ago)
(RTTNews) - Following the release of the U.S. housing starts, building permits and export and impo ...Full Story»

Dollar Mixed Ahead Of U.S. Economic Data (15 hr(s), 27 min(s), 17 sec(s) ago)
(RTTNews) - The U.S. housing starts, building permits and export and import prices for August are ...Full Story»

U.S. Dollar Strengthens Against Euro, Franc (15 hr(s), 48 min(s), 17 sec(s) ago)
(RTTNews) - Reversing direction, the U.S. dollar advanced against the euro and the Swiss franc in ...Full Story»

Euro Little Changed After German ZEW Economic Confidence Index (18 hr(s), 51 min(s), 17 sec(s) ago)
(RTTNews) - At 5:00 am ET Tuesday, Germany's ZEW economic confidence survey data for September ...Full Story»

Euro Mixed Ahead Of German ZEW Economic Confidence Index (19 hr(s), 0 min(s),17 sec(s) ago)
(RTTNews) - At 5:00 am ET Tuesday, Germany's ZEW economic confidence survey data for September ...Full Story»

Canadian Dollar Falls Following BOC Deputy Governor Lane's Remarks (20 hr(s), 45 min(s), 16 sec(s) ago)
(RTTNews) - The Canadian dollar weakened against other major currencies in the Asian session on Tu ...Full Story»

Search

FOREX NEWS

Dollar Weakening As Investors Await Fed Announcement

09/19/2017 - 14:56 PM (RTTNews)
(RTTNews) - The dollar is losing ground against all of its major rivals Tuesday afternoon. The Fed ...Full Story>>

Dollar Lower After U.S. Economic Data; Fed Decision Awaited

09/19/2017 - 09:42 AM (RTTNews)
(RTTNews) - The U.S. dollar was lower against its most major opponents in the European session on ...Full Story>>

Dollar Little Changed After U.S. Economic Data

09/19/2017 - 08:33 AM (RTTNews)
(RTTNews) - Following the release of the U.S. housing starts, building permits and export and impo ...Full Story>>

Dollar Mixed Ahead Of U.S. Economic Data

09/19/2017 - 08:27 AM (RTTNews)
(RTTNews) - The U.S. housing starts, building permits and export and import prices for August are ...Full Story>>

U.S. Dollar Strengthens Against Euro, Franc

09/19/2017 - 08:08 AM (RTTNews)
(RTTNews) - Reversing direction, the U.S. dollar advanced against the euro and the Swiss franc in ...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.