Breaking News

Forex - Dollar index slips lower ahead of fresh U.S. data

ForexJun 16, 2017 10:27
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. Dollar edges lower vs. rivals but remains supported

Investing.com - The dollar slipped lower against other major currencies on Friday, pulling away from a recent two-week high as investors were preparing for a fresh batch of U.S. data due later in the day, after strong economic reports boosted U.S. optimism.

EUR/USD rose 0.30% to 1.1179, bouncing off the previous session’s two-week trough of 1.1130, after the International Monetary Fund and the euro zone's 19 finance ministers backed a payout of €8.5 billion to Greece in order to a default in July and avert another debt crisis.

However, the IMF said it will not disburse the money until the euro zone details debt relief measures, which are not expected until next year.

Investors were also eyeing the second round of the parliamentary election this Sunday, as recent opinion polls show that French President Emmanuel Macron is set to win a massive majority.

The greenback had strengthened broadly after the release on Thursday of encouraging data on U.S. initial jobless claims, as well as on manufacturing activity in the Philadelphia and New York areas.

The data came a day after the Fed raised interest rates from 1.00% to 1.25%, in a widely expected move.

GBP/USD added 0.13% to 1.2774, still supported by the fact that three members of the Bank of England’s Monetary Policy Committee surprised markets by voting in favor of a rate hike on Thursday.

However, the BoE chose to keep interest rates unchanged at a record low and maintain the level of its asset purchase program for the time being.

USD/JPY gained 0.34% to 111.30, while USD/CHF slid 0.25% to 0.9728.

Earlier Friday, the Bank of Japan kept its monetary policy unchanged, in a widely expected move, pledging to keep asset purchases around the current target of ¥80 trillion.

"Private consumption has increased resilience against a background of steady improvement in the employment and income situation," the BOJ said in a statement.

The Australian and New Zealand dollars were stronger, with AUD/USD up 0.36% at 0.7607 and with NZD/USD advancing 0.40% to 0.7237.

In New Zealand, data earlier showed that the Business NZ Manufacturing Index rose to 58.5 in May from 56.8 the previous month.

Meanwhile, USD/CAD edged down 0.19% to trade at 1.3244.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.18% at 97.32, still close to Thursday’s two-week highs of 97.56.

Forex - Dollar index slips lower ahead of fresh U.S. data

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Write your thoughts here
Replace the attached chart with a new chart ?
Post also to:
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email