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11.12.2014 16:44

Foreign exchange market. American session: the U.S. dollar traded mixed against the most major currencies after the better-than-expected U.S. retail sales

The U.S. dollar traded mixed against the most major currencies after the better-than-expected U.S. retail sales. The U.S. retail sales climbed 0.7% in November, exceeding expectations for a 0.3% increase, after a 0.5% gain in October. October's figure was revised up from a 0.3% rise.

Retail sales excluding automobiles increased 0.5% in November, beating expectations for a 0.1% gain, after a 0.4% gain in October. October's figure was revised up from a 0.3% increase.

These figures showed that consumer spending in the U.S. rose in the fourth quarter after slowing in the second quarter.

The number of initial jobless claims in the week ending December 06 in the U.S. fell by 3,000 to 294,000 from 297,000 in the previous week. Analysts had expected the number of initial jobless claims to climb to 299,000.

The U.S. business inventories rose by 0.2% in October, in line with expectations, after a 0.3% gain in September.

The euro fell against the U.S. dollar. 306 banks borrowed 129.84 billion euros in the auction (targeted longer-term refinancing operation (TLTRO)).

Germany's final consumer price index was flat in November.

On a yearly basis, German final consumer price index rose 0.6% in October, higher than the previous reading of 0.5% gain.

France's consumer price inflation declined 0.2% in November, missing expectations for a 0.2% increase, after a flat reading in October.

On a yearly basis, French consumer price index fell to 0.4% in November from 0.5% in October. Analysts had expected the consumer inflation to remain at 0.5%.

The British pound traded higher against the U.S. dollar in the absence of any major economic reports from the U.K.

The Canadian dollar traded lower against the U.S. dollar after the weaker-than-expected Canadian new housing price index. New housing price index increased 0.1% in October, missing expectations for a 0.2% gain, after a 0.1% rise in September.

The Swiss franc declined against the U.S. dollar. The Swiss National Bank's (SNB) kept its interest rate unchanged at 0.00 - 0.25% and also kept the exchange rate floor unchanged at 1.20 francs per euro.

The SNB reiterated that it will defend the 1.20 francs per euro exchange rate floor. The central bank also said that consumer inflation will decline next year and the risk of deflation has risen.

The New Zealand dollar traded lower against the U.S. dollar. In the overnight trading session, the kiwi rose against the greenback after the Reserve Bank of New Zealand's (RBNZ) interest rate decision. The RBNZ kept its interest rate unchanged at 3.50%. This decision was expected by analysts.

The RBNZ Governor Graeme Wheeler said that interest rate hike "is expected to be required at a later stage" because of the economic growth of around 3% and as New Zealand's jobless rate declines. Monetary policy adjustments "will depend on data", he added.

The Australian dollar traded lower against the U.S. dollar. In the overnight trading session, the Aussie traded mixed against the greenback after the mixed labour market data from Australia. Australia's unemployment rate increased to 6.3% in November from 6.2% in October, in line with expectations.

The number of employed people in Australia rose by 42,700 in November, beating expectations for an increase by 15,200, after a gain by 13,700 in October. October's figure was revised down from an increase by 24,100.

The Melbourne Institute's consumer inflation expectations for Australia decreased to 3.4% in December from 4.1% in November.

The Japanese yen declined against the U.S. dollar. Japan's core machinery orders dropped 6.4% in October, missing expectations for a 1.7% fall, after a 2.9% rise in September.

On a yearly basis, Japan's core machinery orders fell 4.9% in October, after a 7.3% gain in September.

Japan's tertiary industry index fell 0.2% in October, missing expectations for a 0.1% decline, after a 1.3% rise in September. September's figure was revised up from a 1.0% gain.

Market Focus

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  • Eurozone: Consumer Confidence, January -4.9
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