Dollar Trading Mixed Head Of Powell Speech
November 13 2018 - 08:35AM
RTTF2
The dollar is turning in a mixed performance against its major
rivals Tuesday afternoon. The lack of U.S. economic data is keeping
some investors on the sidelines, while tomorrow's speech from
Federal Reserve Chairman Jerome Powell has traders in a cautious
mood. Traders will be listening for additional clues about the
outlook for interest rates.
The Italian government is rapidly approaching today's deadline
to submit a revised 2019 budget to the European Commission in line
with EU rules.
The dollar has fallen to around $1.1260 against the Euro Tuesday
afternoon, from an early high of $1.1221.
German investor confidence improved in November, defying
expectations for further weakness, survey data from the ZEW showed
on Tuesday.
The ZEW Indicator of Economic Sentiment for Germany rose to
-24.1 from -24.7 in October, the Mannheim-based think tank said.
Economists had forecast a score of -25.9. In September, the score
was -10.6.
Germany's consumer price inflation in October was the highest in
over a decade, final figures from the Federal Statistical Office
showed on Tuesday. The consumer price index rose 2.5 percent
year-on-year following a 2.3 percent increase in September.
France's non-farm employment grew at a faster rate in the third
quarter than in the previous three months, preliminary estimates
from the statistical office INSEE showed on Tuesday. Private
payroll employment rose 0.2 percent from the second quarter, when
it rose 0.1 percent. In terms of net job creation, the increase was
30,200 jobs versus 22,400 jobs in the previous three months.
Brexit talks in Brussels concluded with "optimism on both sides"
but no final deal has been reached amid split over the issue of the
Irish border.
In a speech on Monday, U.K. Prime Minister Theresa May remarked
that talks were at the "endgame."
The buck has dropped to around $1.2950 against the pound
sterling this afternoon, from a high of $1.2851 this morning.
Britain's unemployment increased during the three months to
September, preliminary data from the Office for National Statistics
showed on Tuesday.
The UK unemployment rate rose slightly in the three months to
September to 4.1 percent. In the past two months, the ILO jobless
rate was steady at 4 percent, which was the lowest level since
early 1975. Economists had forecast the rate to remain
unchanged.
The greenback rose to an early high of Y114.146 against the
Japanese Yen Tuesday, but has since retreated to around
Y113.850.
Euro vs CAD (FX:EURCAD)
Forex Chart
From Feb 2024 to Mar 2024
Euro vs CAD (FX:EURCAD)
Forex Chart
From Mar 2023 to Mar 2024