Dollar Gains again on Weak Numbers
Thursday, October 29, 2009
USD
As with the disappointing consumer confidence numbers earlier in the week, the US housing market experienced a setback on Wednesday, as data showing an unexpected decline in US home sales was released.
The poor numbers came after an on-target durable goods report and helped the Dollar maintain its safe-haven flow intake. Forex analyst consensus for the housing numbers was an increase from September of 23,000 to 440,000; however the actual data showed a drop of 15,000 to 402,000.
At 10:15PM GMT, the US Dollar was trading up .63% to the Euro to 1.4709, up .02% to the British Pound to 1.6388, up 1.35% to the Canadian Dollar to 1.0791, down 1.11% to the Japanese Yen to 90.76, and up .47% versus the Swiss Franc to 1.0264.
AUD
The Australian Dollar suffered its worst trading day in close to four months, falling broadly and sharply to many currencies.
After a rally that has lasted several months, spurred on by positive growth and an apparent emergence from recession, the Aussie retreated after a data release showed that Australian consumer price inflation rose more than expected in the last quarter.
The Reserve Bank of Australia is meeting next week on interest rate policy, however the data does not seem likely to spur them to tighten already low interest rates.
At 10:20PM GMT, the Australian Dollar was trading down 2.25% to the US Dollar to .8967, down 1.55% to the Euro to 1.6397, down 3.25% to the Japanese Yen to 81.41 and up .17% to the New Zealand Dollar to 1.2335.
As with the disappointing consumer confidence numbers earlier in the week, the US housing market experienced a setback on Wednesday, as data showing an unexpected decline in US home sales was released.
The poor numbers came after an on-target durable goods report and helped the Dollar maintain its safe-haven flow intake. Forex analyst consensus for the housing numbers was an increase from September of 23,000 to 440,000; however the actual data showed a drop of 15,000 to 402,000.
At 10:15PM GMT, the US Dollar was trading up .63% to the Euro to 1.4709, up .02% to the British Pound to 1.6388, up 1.35% to the Canadian Dollar to 1.0791, down 1.11% to the Japanese Yen to 90.76, and up .47% versus the Swiss Franc to 1.0264.
AUD
The Australian Dollar suffered its worst trading day in close to four months, falling broadly and sharply to many currencies.
After a rally that has lasted several months, spurred on by positive growth and an apparent emergence from recession, the Aussie retreated after a data release showed that Australian consumer price inflation rose more than expected in the last quarter.
The Reserve Bank of Australia is meeting next week on interest rate policy, however the data does not seem likely to spur them to tighten already low interest rates.
At 10:20PM GMT, the Australian Dollar was trading down 2.25% to the US Dollar to .8967, down 1.55% to the Euro to 1.6397, down 3.25% to the Japanese Yen to 81.41 and up .17% to the New Zealand Dollar to 1.2335.
0 comments:
Post a Comment