Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Dollar remains broadly lower ahead of Fed statement

Published 28/10/2015, 15:51
© Reuters.  Dollar still on the downside with FOMC statement in focus
EUR/USD
-
GBP/USD
-
USD/JPY
-
USD/CHF
-
AUD/USD
-
USD/CAD
-
NZD/USD
-
DX
-

Investing.com - The dollar remained broadly lower against the other major currencies on Wednesday, as sentiment on the greenback was fragile ahead of the Federal Reserve's highly-anticipated policy statement due later in the day.

The dollar was steady against the yen, with USD/JPY at 120.44.

The Fed was not expected to raise interest rates later Wednesday, but many investors still expected the U.S. central bank to signal that rates could still rise at its December meeting.

Data on Tuesday showing that a key measure of U.S. business investment plans fell for a second straight month in September curtailed expectations for higher interest rates.

Orders for nondefense capital goods excluding aircraft, a proxy for company spending on equipment, fell 0.3% in September after a 1.6% decline in August.

Another report showed that U.S. consumer confidence declined this month.

Earlier Wednesday, the Mortgage Bankers Association said their mortgage market index, a measure of mortgage loan application volume, declined by 3.5% in the week ending October 23 to 417.4. That follows a gain of 11.8% to 432.7 in the preceding week.

EUR/USD rose 0.26% to trade at 1.1073.

Elsewhere, the dollar was lower against the pound and the Swiss franc, with GBP/USD adding 0.20% to 1.5329 and with USD/CHF sliding 0.30% to 0.9836.

The Australian and New Zealand dollars were weaker, with AUD/USD down 0.73% at 0.7137 and with NZD/USD retreating 0.56% to 0.6725.

The Australian Bureau of Statistics reported on Wednesday that the consumer price index rose 0.5% in the third quarter, disappointing expectations for a 0.6% gain and after an increase of 0.7% in the three months to June.

Year-on-year, consumer prices rose 1.5% in the last quarter, below expectations for a 1.7% rise.

Meanwhile, USD/CAD tumbled 0.94% to trade at 1.3144.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.37% at 96.66, pulling away from Friday's two-month highs of 97.30.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.