FOREX TradingCharts.com

Forex News: U.S. Dollar Mixed After U.S. GDP Growth Unrevised

U.S. Dollar Mixed After U.S. GDP Growth Unrevised

09/26/2019 - 09:41:00 (RTTNews)

(RTTNews) - The U.S. dollar showed mixed mixed trading against its major counterparts in the European session on Thursday, after the release of a data that showed the U.S. economy expanded in line with the previous estimate in the second quarter.

Data from the Commerce Department showed that said real GDP increased at an annual rate of 2.0 in the second quarter, unchanged from the previous estimate and in line with economist estimates.

The unrevised 2.0 percent GDP growth in the second quarter still reflects a notable slowdown compared to the 3.1 percent jump in the first quarter.

A separate report from the Labor Department showed first-time claims for U.S. unemployment benefits crept slightly higher in the week ended September 21st.

The report said initial jobless claims inched up to 213,000, an increase of 3,000 from the previous week's revised level of 210,000.

Economists had expected initial jobless claims to tick up 212,000 from the 208,000 originally reported for the previous week.

At 10:00 am ET, the National Association of Realtors is due to release its report on pending home sales in the month of August. Pending home sales are expected to climb by 0.9 percent in August after tumbling by 2.5 percent in July.

The currency was lower against its most major counterparts in the previous session.

The greenback pulled back to 1.2363 against the pound, from a 2-week high of 1.2303 seen at 5:30 am ET. The currency is likely to find support around the 1.25 level.

Data from the Society of Motor Manufacturers and Traders showed that UK car production increased for the first time in 15 months in August.

Car production grew 3.3 percent on a yearly basis in August as factories kept production lines rolling throughout the month after they brought forward planned summer shutdowns to April in preparation for the original Brexit deadline.

The greenback held steady against the yen, after reaching as low as 107.55 at 6:35 am ET. At yesterday's close, the pair was worth 107.77.

Bank of Japan Governor Tohiko Kuroda said that the bank will conduct monetary policy without any prejudice in mind.

The momentum towards price stability target may be impaired and downside risks likely increased, Kuroda noted. With this situation in mind, the board will reexamine economic and price trends at the next policy meeting, he said.

The greenback retreated to 1.0956 against the euro, from more than a 2-year low of 1.0923 hit at 6:30 am ET. If the greenback slides further, 1.12 is likely seen as its next support level.

Data from the European Central Bank showed that Eurozone money supply grew at a faster pace in August and growth in private sector credit accelerated.

The broad monetary aggregate M3 climbed 5.7 percent year-on-year in August, faster than the 5.1 percent increase logged in July.

Following a 1-week high of 0.9948 hit at 6:00 am ET, the greenback reversed direction against the franc, with the pair trading at 0.9923. The greenback is seen finding support around the 0.96 region.

The U.S. pending home sales for August are scheduled for release shortly.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Pound Climbs On Brexit Deal Optimism (04 hr(s), 43 min(s), 14 sec(s) ago)
(RTTNews) - The pound strengthened against its major counterparts in the European session on Monda ...Full Story»

Australian Dollar Advances On Risk Appetite (07 hr(s), 31 min(s), 14 sec(s) ago)
(RTTNews) - The Australian dollar strengthened against its most major counterparts in the European ...Full Story»

Pound Strengthens Against Majors (11 hr(s), 10 min(s), 13 sec(s) ago)
(RTTNews) - The pound climbed against its key counterparts in early European deals on Monday. ...Full Story»

Euro Little Changed After German PPI (12 hr(s), 25 min(s), 14 sec(s) ago)
(RTTNews) - Following the release of German producer prices for September at 2:00 am ET Monday, th ...Full Story»

Euro Mixed Ahead Of German PPI (12 hr(s), 34 min(s), 13 sec(s) ago)
(RTTNews) - At 2:00 am ET Monday, Destatis will release German producer prices for September. ...Full Story»

Turkish Lira Trades At 11-day High Against U.S. Dollar (05 hr(s), 28 min(s), 13 sec(s) ago)
(RTTNews) - The Turkish Lira traded higher against the U.S. dollar in the European session on Frid ...Full Story»

Australian Dollar Extends Rally (07 hr(s), 07 min(s), 14 sec(s) ago)
(RTTNews) - The Australian dollar continued to be higher against its major counterparts in the Eur ...Full Story»

Pound Rises Against Majors (09 hr(s), 16 min(s), 14 sec(s) ago)
(RTTNews) - The pound advanced against its major counterparts in early European deals on Friday. ...Full Story»

Search

FOREX NEWS

Pound Climbs On Brexit Deal Optimism

10/21/2019 - 09:46 AM (RTTNews)
(RTTNews) - The pound strengthened against its major counterparts in the European session on Monda ...Full Story>>

Australian Dollar Advances On Risk Appetite

10/21/2019 - 06:59 AM (RTTNews)
(RTTNews) - The Australian dollar strengthened against its most major counterparts in the European ...Full Story>>

Pound Strengthens Against Majors

10/21/2019 - 03:20 AM (RTTNews)
(RTTNews) - The pound climbed against its key counterparts in early European deals on Monday. ...Full Story>>

Euro Little Changed After German PPI

10/21/2019 - 02:05 AM (RTTNews)
(RTTNews) - Following the release of German producer prices for September at 2:00 am ET Monday, th ...Full Story>>

Euro Mixed Ahead Of German PPI

10/21/2019 - 01:56 AM (RTTNews)
(RTTNews) - At 2:00 am ET Monday, Destatis will release German producer prices for September. ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.