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19.06.2014 15:39

Foreign exchange market. American session: the U.S. dollar traded slightly higher against the most major currencies after the better-than-expected U.S. economic data

The U.S. dollar traded slightly higher against the most major currencies after the better-than-expected U.S. economic data. The number of initial jobless claims in the week ending June 14 decreased by 6,000 to 312,000 from 318,000 in the previous week. The previous week's figure was revised down from 317,000. Analysts had expected a decline by 4,000 to 314,000.

The Philadelphia Fed Manufacturing index rose to 17.8 in June from 15.4 in May. Analysts had expected a fall to 14.3.

The U.S. currency remained under pressure due to Fed's comments that interest rates in the U.S. will remain unchanged for a considerable time after the Fed's asset purchase program ends.

The euro traded lower against the U.S. dollar in the absence of any major economic reports in the Eurozone.

The British pound traded higher against the U.S. dollar after the U.K. economic data. The U.K. retail sales dropped 0.5% in May, in line with forecasts, after a 1.3% gain in April. That was the first drop since January.

On a yearly basis, retail sales in the U.K. climbed 3.9% in May, missing expectations for a 4.2% increase, after a 6.9% gain in April.

The Confederation of British Industry released its industrial order books balance. The CBI industrial order books balance increased to 11% in June from 0% in May, exceeding expectations for a climb to 3%.

The Swiss franc traded mixed against the U.S. dollar. The SNB kept unchanged its interest rate close to zero and reaffirmed its commitment to the minimum exchange rate of CHF1.20 per euro as expected by analysts. The SNB said the central bank will monitor the impact of the ECB's interest rate cut on Switzerland and the SNB will take the necessary measures if required.

The New Zealand dollar traded mixed against the U.S dollar. New Zealand's gross domestic product increased 1.0% in the first quarter, missing expectations for a 1.2% gain, after a 1.0% rise in the fourth quarter of 2013. The fourth quarter of 2013 figure was revised up from a 0.9% increase.

On a yearly basis, gross domestic product in New Zealand rose 3.8% in the first quarter, exceeding expectations for a 3.7% increase, after a 3.1% gain in the fourth quarter of 2013.

The Australian dollar traded lower against the U.S. dollar. Japanese life insurance firms and retail funds and Fed's interest rate decision supported the demand for the Australian dollar due to higher yields.

The Reserve Bank of Australia (RBA) released its June bulletin. The RBA said foreign property demand may have pushed up houses and the supply of dwellings in Australia. The RBA also said the growth in infrastructure investment in China could remain strong for some time, which will have a positive impact on Australian commodity exporters.

The RBA pointed out that the lower retail sales from May to mid June was driven by "the "significant downturn in consumer confidence".

The Japanese yen traded slightly lower against the U.S. dollar. Japan's all industry activity index declined 4.3% in April, after a 1.5% increase in March. Analysts had expected the index to fall 3.7%.

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