FX & CFD trading involves significant risk
The U.S. dollar traded mixed against the most major currencies despite the weaker-than-expected U.S. economic data. The Thomson Reuters/University of Michigan preliminary consumer sentiment index dropped to 91.2 in March from a final reading of 95.4 in February, missing expectations for an increase to 95.6.
The U.S. producer price index fell 0.5% in February, missing forecasts of a 0.2% increase, after a 0.8% drop in January.
The decline was driven by a drop in trade services.
The producer price index excluding food and energy declined 0.5% in February, missing forecasts of a 0.1% decrease, after a 0.1% fall in January.
The preliminary Thomson Reuters/University of Michigan preliminary consumer sentiment index will be released at 14:00 GMT0, and is expected to rise to 95.6 in March from a final reading of 95.4 in February.
The euro traded lower against the U.S. dollar in the absence of any major economic reports from the Eurozone. Concerns over Greece's further bailout policy and quantitative easing by the European Central Bank (ECB) still weighed on the euro.
The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K. Comments by the Bank of England (BoE) Governor Mark Carney still weighed on the pound. He said in a speech in Sheffield on Thursday that a stronger pound and low global inflation could weigh on inflation in the U.K. for some time. Carney added that a persistent period of low global inflation is possible, driven by lower oil prices and a slowdown in global demand.
The Canadian dollar traded lower against the U.S. dollar after the weaker-than-expected Canadian labour market data. Canada's unemployment rate climbed to 6.8% in February from 6.6% in January. That was the highest level since September 2014.
Analysts had expected the unemployment rate to decline to 6.5%.
The number of employed people decreased by 1,000 in February, missing expectations for a gain of 21,300, after a 35,400 rise in January.
The decline was driven by job losses in the manufacturing and natural resources sector.
The New Zealand dollar traded mixed against the U.S. dollar. In the overnight trading session, the kiwi traded lower against the greenback despite the solid Business NZ manufacturing purchasing managers' index from New Zealand. The index increased to 55.9 in February from 50.7 in January. January's figure was revised down from 50.9.
The Australian dollar traded lower against the U.S. dollar. In the overnight trading session, the Aussie traded lower against the greenback in the absence of any major economic reports from Australia.
The Japanese yen traded higher against the U.S. dollar. In the overnight trading session, the yen traded lower against the greenback after the weaker-than-expected final industrial production from Japan. Japan's final industrial production rose 3.7% in January, down from the 4.0% increase estimated earlier.
|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.