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02.06.2014 15:40

Foreign exchange market. American session: the U.S. dollar traded higher against the most major currencies despite of the disappointing ISM manufacturing purchase managers’ index

The U.S. dollar traded higher against the most major currencies despite of the disappointing ISM manufacturing purchase managers’ index in the U.S. The Institute of Supply Management released its manufacturing purchasing managers' index for the U.S. The index dropped to 53.2 in May, from 54.9 in April. Analysts had expected a gain to 55.5.

The construction spending in the U.S. remained unchanged at 0.2%, missing expectations for a 0.8% rise.

The euro traded lower against the U.S. dollar. Investors remained cautious ahead of the European Central Bank's decision on Thursday. There are speculations over further stimulus measures from the ECB.

German preliminary consumer price index fell 0.1% in May, after a decline of 0.2% in April. Analysts had expected a 0.1% rise.

On a yearly basis, German preliminary consumer price index rose 0.9% in May, after a 1.3% gain in April. Analysts had forecasted a 1.1% increase.

PMIs were also in focus in the Eurozone. Eurozone’s manufacturing purchase managers’ index (PMI) decreased to 52.2 in May from 52.5 in April. Analysts had expected that the index remained unchanged.

Germany’s manufacturing PMI fell to 52.3 in May from 54.1 in April. Analysts had forecasted a decline to 52.9.

France’s manufacturing PMI sank to 49.6 in May from 51.2 in April. Analysts had expected a decrease to 49.3.

The British pound traded mixed against the U.S. dollar. Manufacturing purchase managers’ index in the U.K. declined to 57.0 in May from 57.3 in April. Analysts had forecasted a fall to 57.1.

Net lending to individuals in the U.K. increased by £2.4 billion in April, after a £2.8 billion rise in March. Analysts had expected a gain by £2.7 billion.

The number of mortgage approvals in the U.K. was 62,918 in April. That was the lowest number since July 2013.

The Swiss franc fell against the U.S. dollar. Switzerland’s manufacturing PMI sank to 52.5 in May from 55.8 in April. Analysts had expected a decrease to 55.7.

The Canadian dollar fell against the U.S. dollar due to the strength of the U.S. dollar and in the absence of any major economic reports in Canada.

The New Zealand dollar traded lower against the U.S dollar. The decline of the kiwi was driven by the weakness of the Australian dollar. Markets in New Zealand were closed on Monday for a public holiday.

The Australian dollar slid against the U.S. dollar after the release of the weak building permits data in Australia. The number of building permits in Australia dropped 5.6% in April, after a decline of 4.8% in March. March’s figure was revised down to 4.8% from a decrease of 3.5%. Analysts had expected a 2.1% gain. On a yearly basis, the building permits in Australia rose 1.1% in April, after a 20.0% increase in March.

Company operating profits in Australia increased 3.1% in the first quarter, after a 1.7% rise the previous quarter. Analysts had forecasted a 2.6% gain.

AIG manufacturing index in Australia climbed to 49.2 in May from 44.8 in April.

The Japanese yen declined against the U.S. dollar after release of the better-than-expected manufacturing purchasing managers' index (PMI) in China. China’s PMI increased to 50.8 in May, beating expectations of a rise to 50.7 from 50.4 in April.

Capital spending in Japan climbed 7.4% in the first quarter, after a 4.0% increase the previous quarter.

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