Mixed data keeps greenback at the edge
After the testimony to the Senate day before, Alan Greenspan gave no fresh indications on the monetary policy during his second testimony to the House yesterday dipping the dollar near the crucial technical levels.
The euro stands smart near the 38% retracement of the drop from 1.3664 to 1.2732.
Dollar was little changed by Philly Fed Index of manufacturing activity which made a comeback to 23.9 in February from 13.2 in January, though the Employees index and future employment index fell. The jobless claims came at a 4-year low dropping by 2K to stand at 302K. Leading indicators index fell 0.3% following a 0.2% rise in December and the US import prices rose 0.9% last month courtesy rising petroleum prices.
Unchanged monetary policy of Bank of Japan after the disappointing GDP report kept the yen fighting against the 105.75 resistance level.
Cable picked pace after UK January retail sales rose to 0.9%, higher than the forecast.
Aussie fell 0.4% against its US counterpart after the central bank Governor Ian Mackfarlane saw the economic growth slowing down and the interest rates rising. Commodities too rallied with the yellow metal at a 3-week peak ($428.6 an ounce). Oil prices were down 1.6% on a sturdy US inventory surplus at 8.5% higher than last year.
Data to watch out for the day – US PPI, University of Michigan consumer sentiment.
Dollar was little changed by Philly Fed Index of manufacturing activity which made a comeback to 23.9 in February from 13.2 in January, though the Employees index and future employment index fell. The jobless claims came at a 4-year low dropping by 2K to stand at 302K. Leading indicators index fell 0.3% following a 0.2% rise in December and the US import prices rose 0.9% last month courtesy rising petroleum prices.
Unchanged monetary policy of Bank of Japan after the disappointing GDP report kept the yen fighting against the 105.75 resistance level.
Cable picked pace after UK January retail sales rose to 0.9%, higher than the forecast.
Aussie fell 0.4% against its US counterpart after the central bank Governor Ian Mackfarlane saw the economic growth slowing down and the interest rates rising. Commodities too rallied with the yellow metal at a 3-week peak ($428.6 an ounce). Oil prices were down 1.6% on a sturdy US inventory surplus at 8.5% higher than last year.
Data to watch out for the day – US PPI, University of Michigan consumer sentiment.
posted by Drs Search @ 9:45 AM
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