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30.03.2015 15:33

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

The U.S. dollar traded higher against the most major currencies after the mostly better-than-expected U.S. economic data. Pending home sales in the U.S. rose 3.1% in February, exceeding expectations for a 0.5% increase, after a 1.2% gain in January. January's figure was revised down from a 1.7% rise.

Personal spending was up 0.1% in February, missing expectations for 0.3% gain, after a 0.2% fall in January.

Consumer spending makes more than two-thirds of U.S. economic activity.

The increase was driven by higher spending on services. Spending on services gained 0.2% in February. Higher heating bills may lead to the increase.

Spending on goods fell 0.1% in February.

Personal income climbed 0.4% in February, exceeding expectations for a 0.3% increase, after a 0.4% rise in January. January's figure was revised up from a 0.3% gain.

The personal consumption expenditures (PCE) price index excluding food and energy rose 0.1% in February, in line with expectations, after a 0.1% rise in January.

On a yearly basis, the PCE price index excluding food and index rose 1.4% in February, after a 1.3% increase in January.

The greenback was also supported by Friday's comments by Federal Reserve Chairwomen Janet Yellen. She said on Friday that the Fed is considering to raise its interest rate "later this year" even though this may slow the U.S. economy. The interest rate hike will be depend on the economic data, Yellen noted.

The euro traded lower against the U.S. dollar. Concerns over Greece's debt problems remained to weigh on the euro. The Greek government is expected to submit its new reform programme.

German preliminary consumer price index rose 0.5% in March, exceeding expectations for a 0.4% increase, after a 0.9% gain in February.

On a yearly basis, German preliminary consumer price index increased to 0.3% in March from 0.1% in February, in line with expectations.

Consumer prices rose as energy prices rebounded in March.

The British pound traded slightly higher against the U.S. dollar. Net lending to individuals in the U.K. increased by £2.5 billion in February, in line with expectations, after a £2.4 billion gain in January.

The number of mortgages approvals in the U.K. rose to 60,760 in February from 60,707 in January, missing expectations for an increase to 62,000. It was the highest level since August 2014.

The Canadian dollar traded lower against the U.S. dollar despite the better-than-expected Canadian raw materials purchase price index. The Raw Materials Price Index (RMPI) jumped 6.1% in February, exceeding expectations for a 5.1% rise, after a 7.8% drop in January. January's figure was revised down from a 7.7% decrease.

It was the first gain since June 2014.

The rise was driven by higher prices for crude energy products. Crude energy products jumped 16.0% in February, the largest rise since March 2009.

The Swiss franc traded lower against the U.S. dollar. The KOF leading indicator increased to 90.8 in March from 90.3 in February, beating expectations for a decrease to 89.1. February's figure was revised up from 90.1.

The New Zealand dollar traded mixed against the U.S. dollar. In the overnight trading session, the kiwi traded lower against the greenback in the absence of any major economic reports from New Zealand.

The Australian dollar declined 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 fell against the U.S. dollar. In the overnight trading session, the yen traded lower against the greenback after the weak industrial production data from Japan. Preliminary industrial production in Japan dropped 3.4% in February, after a 3.7% rise in January.

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