Fundamental analysis on USD
Geneva, Switzerland -- (SBWIRE) -- 01/17/2014 -- The USD fell against other major currencies on Thursday after US jobless claims and inflation data met market expectations. The data were taken as uninspiring, sparking profit taking from recent Dollar gains. During early Asian session, the USD fell against GBP, EUR, JPY, CHF and AUD but rose against NZD and CAD.
The number of individuals filing for initial jobless benefits in the second week of January dropped by 2,000 to 326k from the previous week’s total of 328k whereas consensus expected the data to be unchanged. CPI on the other hand rose by 0.3% in December, in line with forecasts. Core consumer prices up 0.1% last month, also meeting estimates. Investors viewed the data as too soft for the Fed to further tapering its monthly bond purchases.
On Friday, the US is to wrap up the week with the preliminary reading of the University of Michigan consumer sentiment index. The US is also to release data on building permits, housing starts and industrial production.
Economic data for the rest of this week are as follows:
Friday: Switzerland PPI; UK retail sales; US University of Michigan consumer sentiment index, building permits, housing starts and industrial production.
More Forex signals at iFexx Blog. Read more About us. Check out iFexx Performance here. Did you know iFexx Trade Copier automatically trades your account? Weekly Forex Market Preview and Forex News is click away. Fore more common questions about iFexx service is go to FAQs page. Learn more about iFexx double target Strategy. Trade 9 major currency pairs with iFexx Portfolio.
Copyright © 2005-2014 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)