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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
01:30 Australia Construction Work Done Quarter II +0.3% -0.4% -1.2%
06:00 Germany Gfk Consumer Confidence Survey September 9.0 8.9 8.6
06:00 Switzerland UBS Consumption Indicator July 2.07 Revised From 2.06 1.66
The U.S. dollar traded lower against the most major currencies. Yesterday's mixed U.S. economic data weighed on the greenback. Durable goods orders in the U.S. jumped 22.6% in July, but the increase was driven by increasing demand for new aircraft drove the rise. Orders for civilian aircraft soared 318%, while orders for transportation equipment rose 74.2%.
Durable goods orders, excluding transportation, fell 0.8% in July, missing expectations for a 0.5% increase, after a 3.0% gain in June.
The consumer confidence index rose to 92.4 in August from a 90.3 in July, beating forecasts for a decline to 89.1. That was the highest level since October 2007.
The New Zealand dollar increased against the U.S dollar after Fonterra, a leading multinational dairy company based in New Zealand, affirmed milk price. The company said it expected global milk prices to improve later in the year. The company also announced a joint venture with Beingmate Group to produce infant formula for the Chinese market.
Fonterra is the world's biggest dairy exporter.
New Zealand's food price index declined 0.7% in July, after 1.4% rise in June.
The Australian dollar traded slightly higher against the U.S. dollar after the weaker-than-expected construction work done data from Australia. Construction work done in Australia declined 1.2% in the second quarter, missing expectations for a 0.4% fall, after a 0.4% decline in the first quarter. The first quarter figure was revised down from a 0.3% increase.
The Japanese yen traded higher against the U.S. dollar in the absence of any major reports in Japan.
EUR/USD: the currency pair traded mixed
GBP/USD: the currency pair rose to $1.6558
USD/JPY: the currency pair fell to Y103.93
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