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19.12.2014 16:44

Foreign exchange market. American session: the Canadian dollar decreased against the U.S. dollar after the mostly weaker-than-expected Canadian retail sales and consumer price index data

The U.S. dollar traded higher against the most major currencies. The greenback remained supported by Fed's interest rate decision released yesterday. The Fed kept its interest rate unchanged and said it will be "patient" before to raise its interest rate.

There will be released no major economic reports in the U.S. today.

The euro declined against the U.S. dollar. The Gfk German consumer confidence index increased to 9.0 in January from 8.7 in December, beating forecasts for a rise to 8.9.

Eurozone's adjusted current account surplus dropped to €20.5 billion in October from €32.0 billion in September. September's figure was revised up from a surplus of €30.0 billion. Analysts had expected a surplus of €27.8 billion.

The British pound fell against the U.S. dollar. The Confederation of British Industry released its monthly Distributive Trades survey today. The CBI retail sales balance jumped to 61% in December from 27% in November, exceeding expectations for an increase to 30%. That was the highest level since January 1988.

The public sector net borrowing in the U.K. rose to £13.4 billion in November from £6.4 billion in October, beating expectations for a gain to £14.8 billion. October's figure was revised up from £7.1 billion.

The Canadian dollar decreased against the U.S. dollar after the mostly weaker-than-expected Canadian retail sales and consumer price index data. Canadian retail sales were flat in October, beating expectations for a 0.4% decline, after a 0.8% rise in September.

The decline in motor vehicle and parts sales weighed on retail sales.

Canadian retail sales excluding automobiles increased 0.2% in October, in line with expectations, after a flat reading in September.

Canadian consumer price inflation decreased 0.4% in November, missing expectations for a 0.2% decline, after a 0.1% gain in October.

On a yearly basis, the consumer price index fell to 2.0% November from 2.4% in October. Analysts had expected the index to decline 2.3%.

The consumer price index was driven by lower gasoline prices.

Canadian core consumer price index, which excludes some volatile goods, decreased 0.2% in November, missing expectations for a 0.1% rise, after a 0.3% increase in October.

On a yearly basis, core consumer price index in Canada declined to 2.1% in November from 2.3% in October, missing forecasts of a rise to 2.4%.

The Bank of Canada's inflation target is 2.0%.

The New Zealand dollar traded lower against the U.S. dollar. In the overnight trading session, the kiwi rose against the greenback despite the mostly weak economic data from New Zealand. The ANZ business confidence index for New Zealand declined to 30.4 in December from 31.5 in November.

Credit card spending in New Zealand rose 5.2% in November, after a 6.8% gain in October. October's was revised up from a 6.7% increase.

The Australian dollar traded 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. In the overnight trading session, the yen fell against the greenback after the Bank of Japan's (BoJ) interest rate decision. The BoJ kept its interest rate at 0.1% unchanged. The central bank will expand its monetary base at an annual pace of 80 trillion yen. The BoJ board voted by an 8-1 margin to hold off fresh stimulus measures.

The BoJ Governor Haruhiko Kuroda said at the press conference that the nation's economy is on track to reach the BoJ's 2% inflation target and the BoJ would do anything to achieve its target.

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  • Australian unemployment rate stable at 5.6% in June
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