Dollar bulls smile after data releases
The dollar regained some lost ground against the major currencies on better than expected data releases from the US.
The Core PCE Index rose to 1.6 per cent up from 1.5 per cent the previous month, the Chicago PMI numbers were marginally better than expected at 62.7 up from 62.4 in January. All wasn’t well for the dollar as the personal incomes tumbled 2.3 per cent after a record surge in December.
This along with lower inflation rated from the Eurozone at 1.9 per cent from 2.4 per cent, was reason enough to push the euro below the 1.32 levels.
Sterling was the other casualty to the US figures settling at 1.9180 after falling to a low of 1.9164.
Yen held on to the 104.50 levels despite the US number as traders rejoiced after unexpectedly strong Industrial Production up 2.1 percent and retail sales figures.
The PMI figures though positive for the dollar, would fail to see the currency rally further unless supported by Tuesdays ISM figures and Fridays payroll numbers.
The Core PCE Index rose to 1.6 per cent up from 1.5 per cent the previous month, the Chicago PMI numbers were marginally better than expected at 62.7 up from 62.4 in January. All wasn’t well for the dollar as the personal incomes tumbled 2.3 per cent after a record surge in December.
This along with lower inflation rated from the Eurozone at 1.9 per cent from 2.4 per cent, was reason enough to push the euro below the 1.32 levels.
Sterling was the other casualty to the US figures settling at 1.9180 after falling to a low of 1.9164.
Yen held on to the 104.50 levels despite the US number as traders rejoiced after unexpectedly strong Industrial Production up 2.1 percent and retail sales figures.
The PMI figures though positive for the dollar, would fail to see the currency rally further unless supported by Tuesdays ISM figures and Fridays payroll numbers.
posted by Drs Search @ 10:12 AM
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