WorldMozaic - US Dollar Remains in Positive Trends.
US dollar experienced a decline due to mixed economic data at the end of Friday trading (15/09/2017). However, it still have the biggest weekly gain since June.
Data showed August retail sales fell 0.2%, compared to flat (no gain) expectations. Excluding car sales, data showed a 0.2% rise, versus an expected 0.4% rise. The Empire State New York Federal Reserve manufacturing survey, which tracks activity in New York state, retreated slightly to 24.4 for September, staying near three-year highs.
August industrial production fell 0.9% with flat expectations and capacity utilization for the month fell to 76.1%, compared to a forecast of 76.8%.
Business inventories rose 0.2% in July and September consumer sentiment at 95.3 beat the median forecast 94.5, ending Friday's data.
"While retail sales are quite disappointing, the Empire State manufacturing survey surpassed expectations, possibly due to the weakness of the dollar," said Lennon Sweeting, head of corporate trading and chief market strategist at XE.com, in a research note,
"The decline in industrial production can be attributed to the impact of Hurricane Harvey, September could be even worse when Irma is reckoned," said Paul Ashworth, chief economist at Capital Economic.
That said, consumer confidence seems to have let go of negative August sentiment around Charlottesville, Va., When President Donald Trump's response to the white supremacist demonstrations in the city drew a loud reprimand inside and outside Washington, which led the market to reassess expectations that he could pro-business policies are enforced.
Meanwhile, tensions around North Korea, despite persisting, have largely run in the background as it has several pairs of deadly storms.
The ICE US Dollar Index traded at 91.880, 0.3% lower, compared to Thursday (14/09/2017). For the week, the ICE dollar index was at its biggest weekly gain since the period ended June 9 with an increase of about 0.6%, according to FactSet data.
Part of the momentum for the rise in money may be linked to better than 50% market price hike by the Fed by the end of the year, up from 30% last week.
Higher interest rates can make the dollar a more attractive option to park funds for currency traders. Meanwhile the WSJ Dollar slipped 0.1% to 85.09, posting a 0.7% rise in the week.
North Korea fired another missile into Japan early in Tokyo time. The missile flew over Japan's Hokkaido island before landing in the Pacific. The missile blast follows a thermonuclear test about two weeks ago and a separate missile test crossing Japanese airspace at the end of August.
US dollar experienced a decline due to mixed economic data at the end of Friday trading (15/09/2017). However, it still have the biggest weekly gain since June.
Data showed August retail sales fell 0.2%, compared to flat (no gain) expectations. Excluding car sales, data showed a 0.2% rise, versus an expected 0.4% rise. The Empire State New York Federal Reserve manufacturing survey, which tracks activity in New York state, retreated slightly to 24.4 for September, staying near three-year highs.
August industrial production fell 0.9% with flat expectations and capacity utilization for the month fell to 76.1%, compared to a forecast of 76.8%.
Business inventories rose 0.2% in July and September consumer sentiment at 95.3 beat the median forecast 94.5, ending Friday's data.
"While retail sales are quite disappointing, the Empire State manufacturing survey surpassed expectations, possibly due to the weakness of the dollar," said Lennon Sweeting, head of corporate trading and chief market strategist at XE.com, in a research note,
"The decline in industrial production can be attributed to the impact of Hurricane Harvey, September could be even worse when Irma is reckoned," said Paul Ashworth, chief economist at Capital Economic.
That said, consumer confidence seems to have let go of negative August sentiment around Charlottesville, Va., When President Donald Trump's response to the white supremacist demonstrations in the city drew a loud reprimand inside and outside Washington, which led the market to reassess expectations that he could pro-business policies are enforced.
Meanwhile, tensions around North Korea, despite persisting, have largely run in the background as it has several pairs of deadly storms.
The ICE US Dollar Index traded at 91.880, 0.3% lower, compared to Thursday (14/09/2017). For the week, the ICE dollar index was at its biggest weekly gain since the period ended June 9 with an increase of about 0.6%, according to FactSet data.
Part of the momentum for the rise in money may be linked to better than 50% market price hike by the Fed by the end of the year, up from 30% last week.
Higher interest rates can make the dollar a more attractive option to park funds for currency traders. Meanwhile the WSJ Dollar slipped 0.1% to 85.09, posting a 0.7% rise in the week.
North Korea fired another missile into Japan early in Tokyo time. The missile flew over Japan's Hokkaido island before landing in the Pacific. The missile blast follows a thermonuclear test about two weeks ago and a separate missile test crossing Japanese airspace at the end of August.
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