FX & CFD trading involves significant risk
The U.S. dollar traded higher against the most major currencies after the U.S. final gross domestic product (GDP). The U.S. GDP rose at an annual rate of 4.6% in the second quarter, in line with expectations, after a 2.1% decline in the first quarter. A previous reading was a 4.2% gain.
The final Reuters/Michigan consumer sentiment index remained unchanged at 84.6 in September, missing expectations for a rise to 85.1.
The greenback remained supported on speculation the Fed will start to hike its interest rates sooner than expected. The Dallas Federal Reserve President Richard Fisher said yesterday that the Fed may start hiking its interest rates around the spring of 2015.
The euro traded lower against the U.S. dollar after the weaker-than-expected economic data from Germany. The Gfk consumer confidence index for Germany fell to 8.3 in October from 8.6 in September. Analysts had expected the index to decline to 8.5.
The British pound dropped against the U.S. dollar in the absence of any major economic reports from the U.K.
The New Zealand dollar traded lower against the U.S. dollar in the absence of any major economic reports from New Zealand.
Yesterday's comments by the Reserve Bank of New Zealand Governor Graeme Wheeler still weighed on the kiwi. He said the strength of the New Zealand dollar was "unjustified and unsustainable".
The Australian dollar traded slightly lower against the U.S. dollar in the absence of any major economic reports from Australia.
The Japanese yen traded lower against the U.S. dollar. Japan's nationwide core consumer price index increased 3.1% in August, missing expectations for a 3.2% rise, after a 3.3% gain in July.
Japan's nationwide consumer price index rose 3.3% in August, after a 3.4% increase in July.
Comments by Japan's Welfare Minister Yasuhisa Shiozaki also weighed on the yen. He said reforms for Government Pension Investment Fund (GPIF) would continue as planned.
|remaining time till the new event being published|
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.