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25.03.2015 16:31

Foreign exchange market. American session: the U.S. dollar traded mixed to higher against the most major currencies despite the weaker-than-expected U.S. durable goods orders data

The U.S. dollar traded mixed to higher against the most major currencies despite the weaker-than-expected U.S. durable goods orders data. The U.S. durable goods orders dropped 1.4% in February, missing expectations for a 0.2% increase, after a 2.0% rise in January. January's figure was revised down from a 2.8% increase.

The U.S. durable goods orders excluding transportation declined 0.4% in February, missing expectations for a 0.4% gain, after a 0.7% decrease in January. January's figure was revised down from a 0.3% gain.

The euro traded lower against the U.S. dollar. German Ifo business climate index climbed to 107.9 in March from 106.8 in February, exceeding expectations for a rise to 107.4. It was the highest level since July 2014.

The better sentiment was supported by ECB's quantitative easing.

The British pound traded lower against the U.S. dollar. The number of mortgage approvals increased to 37,300 in February from 36,500 in January, exceeding expectations for a rise to 36,900. January's figure was revised up from 36,400.

The Swiss franc traded mixed against the U.S. dollar. The Swiss National Bank (SNB) released its Quarterly Bulletin. The central bank expects the Swiss GDP to grow under 1% this year, and unemployment is expected to rise.

Switzerland's UBS consumption indicator increased to 1.19 points in February from 1.11 points in January. January's figure was revised down from 1.24 points.

The Canadian dollar traded lower against the U.S. dollar ahead of a speech by Governing Council Member Lane.

The New Zealand dollar traded lower against the U.S. dollar. In the overnight trading session, the kiwi traded lower against the greenback after the weaker-than-expected trade data from New Zealand. New Zealand's trade surplus climbed to NZ$50 million in February from NZ$30 million in January. January's figure was revised down from a surplus of NZ$56 million. Analysts had expected a surplus of NZ$355 million.

The Australian dollar traded lower against the U.S. dollar. In the overnight trading session, the Aussie traded lower against the greenback after Reserve Bank of Australia's (RBA) Financial Stability Review. The central bank said that it expects lower mortgage rates to boost housing demand further, and added that it will monitor closely the housing lending.

The RBA pointed out that risks in the non-financial business sector are low.

The Japanese yen traded mixed against the U.S. dollar. In the overnight trading session, the yen traded mixed against the greenback after comments by the Bank of Japan (BoJ) Deputy Governor Kikuo Iwata. He said that it is difficult to achieve 2% inflation within two years due to falling oil prices and a bigger-than-expected hit on spending caused by last year's sales tax hike.

Market Focus

  • The Bank of Japan decided by a 7-2 majority vote to hold the interest rate at -0.10%
  • Earnings Season in U.S.: Major Reports of the Week
  • U.S. commercial crude oil inventories decreased by 4.7 million barrels from the previous week
  • Australian unemployment rate stable at 5.6% in June
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