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27.01.2015 16:32

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

The U.S. dollar traded lower against the most major currencies after the mixed U.S. economic data. New home sales climbed 11.6% to a seasonally adjusted annual rate of 481,000 units in December from 431,000 units in November. November's figure was revised down from 438,000 units. Analysts had expected new home sales to reach 450,000 units.

The Conference Board released its consumer confidence index for the U.S. rose to 102.9 in January from 93.1 in December, exceeding expectations for a rise to 94.4. December's figure was revised up from 92.6. That was the highest level since August 2007.

The U.S. durable goods orders dropped 3.4% in December, missing expectations for a 0.5% increase, after a 2.1% decline in November. November's figure was revised down from a 0.9% decrease.

The decline was driven by falling orders for computers, metals and electrical equipment. Orders for computers plunged 10.4%, orders for primary metals fell 1.5%, orders for communications equipment declined 1.6% and orders for transportation gear decreased 9.2%.

The U.S. durable goods orders excluding transportation fell 0.8% in December, missing expectations for a 0.5% gain, after a 1.3% decrease in November.

The S&P/Case-Shiller home price index increased 4.3% in November, missing expectations for a 4.5% rise, after a 4.5% gain in October. That was the slowest pace since October 2012.

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

Investors remained cautious amid concerns over Greece's future policy. Syriza party won the country's parliament elections on Sunday. The party has pledged to renegotiate the terms of the country's €240 billion euro financial bailout and to reverse many of the austerity measures.

The British pound increased against the U.S. dollar despite the weaker-than-expected economic data from the U.K. The U.K. gross domestic product (GDP) climbed 0.5% in the fourth quarter, missing expectations for a 0.6% gain, after a 0.7% rise in the third quarter.

On a yearly basis, the U.K. GDP increased 2.7% in the fourth quarter, missing forecasts of a 2.8 rise, after a 2.6% gain in the third quarter.

The number of mortgage approvals decreased to 35,700 in December from 36,700 in November, the lowest reading since April 2013.

The Swiss franc traded mixed against the U.S. dollar. The Swiss franc fell in the morning trading session on speculation that the Swiss National Bank (SNB) was intervening in the market. The Swiss National Bank (SNB) Vice President Jean-Pierre Danthine said in an interview with the Tages-Anzeiger newspaper published on Tuesday that the central bank is prepared to intervene in markets.

The Swiss National Bank's (SNB) monetary policy data for the week ending 23 January 2015 released on Monday showed that the amount of cash commercial banks hold with the SNB rose last week. Data indicates that the central bank may have intervened after discontinuing the 1.20 per euro exchange rate floor on January 15th.

The SNB declined to comment.

The New Zealand dollar traded higher against the U.S. dollar in the absence of any major economic reports from New Zealand. In the overnight trading session, the kiwi traded lower against the greenback as Greek parliament election results still weighed on the kiwi.

The Australian dollar traded slightly higher against the U.S. dollar. In the overnight trading session, the Aussie traded higher against the greenback. The National Australia Bank's business confidence index climbed to 2 in December from 1 in November, missing expectations for a rise to 4.

The Japanese yen traded higher against the U.S. dollar in the absence of any major economic reports from Japan. In the overnight trading session, the yen rose against the greenback.

Market Focus

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