FOREX TradingCharts.com

Forex News: Dollar Mixed After U.S. Retail Sales Data

Dollar Mixed After U.S. Retail Sales Data

01/15/2021 - 09:42:00 (RTTNews)

(RTTNews) - The U.S. dollar showed mixed trading against its major counterparts in the European session on Friday, after a data showed that the nation's retail sales continued to decline in December.

Data from the Commerce Department showed that retail sales fell by 0.7 percent in December after tumbling by a revised 1.4 percent in November.

Economists had expected retail sales to come in unchanged compared to the 1.1 percent slump originally reported for the previous month.

Excluding sales by motor vehicle and parts dealers, retail sales plunged by 1.4 percent in December after sliding by 1.3 percent in November.

Ex-auto sales were expected to edge down by 0.1 percent compared to the 0.9 percent decrease originally reported for the previous month.

Data from the Labor Department showed that U.S. producer prices increased slightly less than expected in the month of December.

The Labor Department said its producer price index for final demand rose by 0.3 percent in December after inching up by 0.1 percent in November. Economists had expected producer prices to rise by 0.4 percent.

Excluding food and energy prices, core producer prices crept up by 0.1 percent in December, matching the uptick seen in the previous month. Core prices were expected to edge up by 0.2 percent.

Data from the Federal Reserve Bank of New York showed that activity in the New York manufacturing sector unexpectedly grew at a slower pace in the month of January.

The New York Fed said its general business conditions index slipped to 3.5 in January from 4.9 in December, although a positive reading still indicates growth in regional manufacturing activity. Economist had expected the index to inch up to 6.0.

On stimulus front, U.S. President-elect Joe Biden has unveiled a $1.9 trillion aid package to combat the economic crisis triggered by the Covid-19 pandemic.

The plan includes $1 trillion in aid to families, $350 billion for state and local governments and $160 billion to expand vaccination and testing efforts, and other health programs.

Biden proposed $1,400 in direct payments, which, along with the $600 provided in the most recent COVID-19 bill would take the aid to $2,000 per person.

Supplemental unemployment benefits would be raised to $400 a week from $300 a week and will run through September.

The greenback climbed during the Asian session, as worries about rising U.S.-China tensions offset investor optimism over Biden's coronavirus rescue plan to boost the world's largest economy.

The greenback advanced to a 3-day high of 1.3594 against the pound from Thursday's close of 1.3685. If the greenback strengthens further, it is likely to test resistance around the 1.34 level.

Data from the Office for National Statistics showed that the UK economy contracted less than expected in November despite a second nationwide lockdown.

The gross domestic product shrank 2.6 percent on month in November but slower than the 5.7 percent fall economists' had forecast. The decline reversed a 0.6 percent rise posted in October.

The greenback approached 1.2106 against the euro, its strongest level since December 11. The greenback is poised to challenge resistance around the 1.18 mark.

Data from Eurostat showed that Eurozone exports increased for the seventh straight month in November.

Exports grew 2 percent on month and imports climbed 2.4 percent from October. However, compared to the month before restrictions were imposed in February, both flows were still down by 4.4 percent and 4.8 percent, respectively.

The greenback was steady against the franc, after easing off to 0.8869 at 5:15 am ET. At yesterday's trading close, the pair was valued at 0.8879.

The greenback rebounded slightly to 103.80 against the yen, from a low of 103.62 seen at 5:30 am ET. The greenback is seen finding resistance around the 106.00 mark.

The U.S. business inventories data for November and University of Michigan's preliminary consumer sentiment index for January will be released at 10:00 am ET.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


U.S. Dollar Appreciates Amid Worsening Sentiment (47 min(s), 39 sec(s) ago)
(RTTNews) - The U.S. dollar appreciated against its major counterparts in the European session on ...Full Story»

Euro Little Changed After Eurozone CPI (29 min(s), 40 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Eurostat has published euro area flash consumer price figures. ...Full Story»

Euro Mixed Ahead Of Eurozone CPI (23 min(s), 39 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Eurostat publishes euro area flash consumer price figures. Econ ...Full Story»

NZ Dollar Falls Amid China's Warning About Bubbles In Markets (38 min(s), 39 sec(s) ago)
(RTTNews) - The NZ dollar depreciated against its major counterparts in the Asian session on Tuesd ...Full Story»

Aussie Slightly Up After RBA Decision (05 min(s), 39 sec(s) ago)
(RTTNews) - The Reserve Bank of Australia retained its benchmark lending rate at 0.10 percent and ...Full Story»

Canadian Dollar Advances As Oil Prices Rise (17 min(s), 39 sec(s) ago)
(RTTNews) - The Canadian dollar climbed against its major counterparts in the European session on ...Full Story»

Pound Little Changed After U.K. Factory PMI (59 min(s), 39 sec(s) ago)
(RTTNews) - At 4.30 am ET Monday, UK CIPS/Markit final factory PMI and mortgage approvals figures ...Full Story»

Pound Mixed Ahead Of U.K. Factory PMI (50 min(s), 39 sec(s) ago)
(RTTNews) - At 4.30 am ET Monday, UK CIPS/Markit final factory PMI and mortgage approvals figures ...Full Story»

Search

FOREX NEWS

U.S. Dollar Appreciates Amid Worsening Sentiment

03/02/2021 - 07:21 AM (RTTNews)
(RTTNews) - The U.S. dollar appreciated against its major counterparts in the European session on ...Full Story>>

Euro Little Changed After Eurozone CPI

03/02/2021 - 05:03 AM (RTTNews)
(RTTNews) - At 5.00 am ET Tuesday, Eurostat has published euro area flash consumer price figures. ...Full Story>>

Euro Mixed Ahead Of Eurozone CPI

03/02/2021 - 04:57 AM (RTTNews)
(RTTNews) - At 5.00 am ET Tuesday, Eurostat publishes euro area flash consumer price figures. Econ ...Full Story>>

NZ Dollar Falls Amid China's Warning About Bubbles In Markets

03/02/2021 - 02:12 AM (RTTNews)
(RTTNews) - The NZ dollar depreciated against its major counterparts in the Asian session on Tuesd ...Full Story>>

Aussie Slightly Up After RBA Decision

03/01/2021 - 22:41 PM (RTTNews)
(RTTNews) - The Reserve Bank of Australia retained its benchmark lending rate at 0.10 percent and ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.