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06.01.2015 16:32

Foreign exchange market. American session: the U.S. dollar traded mixed against the most major currencies after the weaker-than-expected U.S. economic data

The U.S. dollar traded mixed against the most major currencies after the weaker-than-expected U.S. economic data. The ISM non-manufacturing purchasing managers' index fell to 56.2 in December from 59.3 in November, missing expectations for a decline to 58.2.

Factory orders in the U.S. dropped 0.7% in November, missing expectations for a 0.3% decrease, after a 0.7% decline in October. That was the fourth straight decline.

The decline was driven by weaker demand for primary metals, industrial machinery and military aircraft.

The euro traded higher against the U.S. dollar. Eurozone' final services purchasing managers' index (PMI) fell to 51.6 in December from a preliminary reading of 51.9. Analysts had expected the final index to remain at 51.6.

Germany's final services PMI remained rose to 52.1 in December from a preliminary reading of 51.4. Analysts had expected the final index to remain at 51.4.

France's final services PMI increased to 50.6 in December from a preliminary reading of 49.8. Analysts had expected the final index to remain at 49.8.

Political uncertainty in Greece and speculation the European Central Bank will add further stimulus measures still weighed on the euro. There is speculation that Greece could leave the Eurozone. Greeks will elect new parliament later this month. If a left-wing government wins Greek parliament elections, it may cancel austerity measures and may renegotiate Greece's debt.

Investors speculate that the European Central Bank could decide on its policy meeting on January 22 to purchase government bonds.

The British pound traded lower against the U.S. dollar. The weaker-than-expected services data from the U.K. still weighed on the pound. Markit's and the Chartered Institute of Purchasing & Supply's services purchasing managers' index (PMI) for the U.K. fell to 55.8 in December from 58.6 in November, missing expectations for a rise to 58.9. That was the lowest level since May 2013.

The Canadian dollar traded lower against the U.S. dollar after the weaker-than-expected Canadian Canada's raw materials purchase price index. Canada's Raw Materials Price Index (RMPI) dropped 5.8% in November, missing expectations for a 4.6% fall, after a 4.3% decline in October. That was the fifth straight decline.

The Canadian Industrial Product Price Index (IPPI) fell 0.4% in November, beating forecasts for a 0.5% decline, after a 0.5% decrease in October.

The New Zealand dollar rose against the U.S. dollar in the absence of any major market reports from New Zealand.

The Australian dollar traded lower against the U.S. dollar. In the overnight trading session, the Aussie increased against the greenback after the better-than-expected Australian trade data. Australia's trade deficit widened to A$0.93 billion in November from A$0.88 billion in October. October's figure was revised up from a deficit of A$1.32 billion. Analysts had expected the trade deficit to increase to A$1.59 billion.

The Japanese yen rose against the U.S. dollar. In the overnight trading session, the yen increased against the greenback due to increasing demand for safe-haven currency.

Japan's monetary base increased 38.2% in December, beating expectations for a 34.3% rise, after a 36.7% gain in November.

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