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Forex – Dollar gives up earlier gains after the University of Michigan data


The US dollar gave up earlier gains against other major currencies in morning trading time for the US on Friday, after the release of the last US economic reports for the week Hama, a University of Michigan index of consumer confidence. Earlier economic growth data and durable goods orders in the United States, which came in below expectations were, to affect this data on the state of the optimism felt by markets towards the positive economic effects for the management of the new US president (Donald Trump).
In a report released earlier, the University of Michigan reported that consumer confidence issued by the index rose to record a reading of 98.5 points during the current month, from the initial reading, amounting to 98.1 points. Analysts had expected the index rising to 98.1 points.
Before that, in the official report, the economic analysis office in the United States said that the gross domestic product grew by a seasonally adjusted amounting to 1.9% during the fourth quarter of last year, which was the worst, and much of the growth rate for the previous quarter, amounting to 3.5%, and worse than expectations analysts who were anticipating a growth rate of 2.2%.
In a separate report, the Commerce Department reported that durable goods orders fell by 0.4% during the past month, which is contrary to the expectations that have been waiting for a rise of 2.6%. The report also showed that US core durable goods orders, which exclude cars and means of transport known Ptqlbha seasonal sales, rose by 0.5% during the month, which was in line with expectations.
“Durable goods” is mainly considered are large or heavy goods designed to last at least three Snot.
This market participants continued to follow the policy announced this week by the new US president Donald Trump measures. The Trump spoke on Thursday evening for a tax of 20% on all Mexican goods that enter the United States in order to finance the construction of the border wall between the two countries. Donald Trump, as well as plans to impose “severe scrutiny” on visa applications and impose a temporary ban prevents all refugees from entering the United States.
In the same context, investors are also awaiting the meeting scheduled for later in the day Friday between Prime Minister of the United Kingdom (Theresa May) and the new US president (Donald Trump). It is expected that the two leaders will discuss the possibility of reaching an agreement to trade between the two countries.
Returning to the markets, it has increased the euro / dollar rate of 0.25% to trade at 1.0707, after it had hit its lowest level in today’s trading session at 1.0657.
The GBP / USD also fell 0.24% to trade at 1.2569, to move away from its highest level in five weeks, which had been struck on Thursday at 1.2680.
The British currency traders awaited meeting, which will attract the spotlight between the British Prime Minister (Threyza Mae) and the new US president (Donald Trump).
The US currency rose against the Japanese counterpart, the dollar / yen came by 0.45% to trade at 115.04, the highest levels of the pair this week. The dollar also fell against the Swiss currency as well as with the decline in the dollar / franc by 0.16% to trade at 0.9985.
In Japan, during the Asian trading session, economic data showed that consumer prices for the capital Tokyo index rose at an annual rate of 0.1% during the month, which was above the level of expectations that were looking forward to the stability of the index read. Also, increased basic consumer price index, which excludes fresh food known Ptqlbha items, an annual rate of 0.4% during the month, which came on the contrary, the expectations that have been waiting for a decline of 0.3%.
The dollar also reversed its rise against the currencies of Oceania continent bearing the same name and returned to decline, with the AUD / USD rising 0.25% to trade at 0.7555, and NZD / USD shedding 0.46% to hit 0.7277.
Meanwhile USD / CAD up 0.13% to trade at 1.3109, after having hit a session low of 1.3131.
With the decline in the direction of the US currency against most of its major rivals, dollar index, which measures the US currency’s strength against a basket of six other major currencies, it rose by 0.08% to hit 100.44 and begins to move away from its lowest level in seven weeks, and who had been hit on Thursday, at 99.70, knowing that he had recorded the highest level in today’s session at 100.81.

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