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11.09.2014 15:40

Foreign exchange market. American session: the Canadian dollar fell against the U.S. dollar after the Canadian new housing price index

The U.S. dollar traded mixed against the most major currencies ahead of the number of initial jobless claims in the U.S. The number of initial jobless claims in the week ending September 6 rose by 11,000 to 315,000 from 304,000 in the previous week. The previous week's figure was revised from 302,000. Analysts had expected the number of initial jobless claims to increase by 2,000 to 306,000.

The greenback remained supported on speculation the Fed will start to hike its interest rate sooner than expected. The San Francisco Federal Reserve released a research report on Monday. The report showed that investors were underestimating the start of interest rate hike by the Fed.

The euro traded mixed against the U.S. dollar. German consumer price index remained flat in August.

French consumer price index climbed 0.5% in August, exceeding expectations for a 0.4% increase, after a 0.3% decline in July.

The British pound traded slightly lower against the U.S. dollar. The pound retreated as a Wednesday Scotland's independence poll showed 53% said "no" to independence.

Comments by the Bank of England Governor Mark Carney also supported the pound. Mark Carney said on Wednesday that the central bank could start to hike its interest rate in the coming months.

The Canadian dollar fell against the U.S. dollar after the Canadian new housing price index. The Canadian new housing price index was flat in July, missing expectations for a 0.2% gain, after 0.2% increase in June.

The New Zealand dollar traded mixed against the U.S dollar. The Reserve Bank of New Zealand's interest rate decision weighed on the kiwi. The Reserve Bank of New Zealand (RBNZ) kept its interest rate unchanged at 3.50%. This decision was widely expected by analysts.

The RBNZ Governor Graeme Wheeler said the strength of the kiwi is still "unjustified and unsustainable". He added that the central bank expects further significant depreciation.

Mr. Wheeler signalled that he will wait with future interest rates.

The Australian dollar traded lower against the U.S. dollar despite the better-than-expected labour market data from Australia. Australia's economy added 121,000 jobs in August, beating expectations for a gain of 15,200 jobs, after a decline of 4,100 jobs in July. July's figure was revised down from a 300 drop.

Australia's unemployment rate fell to 6.1% in August from 6.4% in July, beating forecasts for a decrease to 6.3%.

The Melbourne Institute's inflation expectations for Australia in the next 12 months climbed to 3.5% in August from 3.1% in July.

The Japanese yen traded mixed against the U.S. dollar. Comments by the Bank of Japan Governor Haruhiko Kuroda weighed on the yen. He said to the Japan's Prime Minister Shinzo Abe that the central bank is ready to expand monetary easing measures to reach 2 percent inflation target.

The BSI manufacturing index climbed to a seasonally adjusted annual rate of 12.7 in the third quarter from a decline of 13.9% in the previous quarter. Analysts had expected the index to increase to -10.3.

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
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