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05.05.2014 15:39

Foreign exchange market. American session: markets unimpressed by published economic data

The euro traded little higher against the U.S. dollar despite the better-than-expected ISM Non-Manufacturing PMI in the U.S. The Institute of Supply Management released its non-manufacturing purchasing managers' index today. ISM Non-Manufacturing PMI climbed to 55.2 in April from 53.1 in March. Analysts forecasted an increase to 54.3.

Eurozone’s investor confidence released by Sentix declined to 12.8 in March from 14.1 in February. Analysts forecasted an increase to 14.2.

The European Commission warned that the low level of inflation and geopolitical tensions with Russia could have a negative impact on economic recovery.

The U.S. dollar traded mixed against the most major currencies, supported by the better-than-expected ISM Non-Manufacturing PMI in the U.S. The escalation of tensions in Ukraine had a negative impact on the U.S. currency.

The British pound traded mixed against the U.S. dollar. Markets in London are closed for a public holiday.

In overnight trading, the New Zealand dollar decreased against the U.S. dollar, but recovered its losses. The decline of China’s HSBC manufacturing purchasing managers’ index was the reason for this price development. China’s HSBC manufacturing purchasing managers’ index dropped to 48.1 in April from 48.3 in March. Analysts expected an increase to 48.4. China is New Zealand's second biggest export partner.

In overnight trading, the Australian dollar declined against the U.S. dollar after the release of China’s HSBC manufacturing purchasing managers’ index and Australia’s building permits, but recovered its losses. Building permits increased to -3.5% in March from -5.4% in February. February’s figure was revised down from -5.0%. The projected figure was an increase of 1.5%. Job advertisements in Australia were up 2.2% in April from 1.4% in March.

In overnight trading, the Japanese yen rose for a second day against the U.S. dollar, but declined after the release of the better-than-expected ISM Non-Manufacturing PMI in the U.S. The Bank of Japan Governor Haruhiko Kuroda told CNBC that Japan’s economic recovery is on track. His interview is damping speculation Japan’s central bank will add more quantitative stimulus measures.

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