• Foreign exchange market. Asian session: U.S. dollar trading mixed after U.S. data

Market news

21 November 2014

Foreign exchange market. Asian session: U.S. dollar trading mixed after U.S. data

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

02:00 New Zealand Credit Card Spending October +4.4% +6.7%

The U.S. dollar traded mixed against its peers during Asian Trade despite the mostly better-than-expected U.S. economic data but profit taking took away some gains. The Philadelphia Federal Reserve Bank' manufacturing index surged to 40.8 in November from 20.7 in October to the highest level since December 1993. Beating forecasts that expected the index to decline to 18.9.Sales of existing homes in the U.S. climbed 1.5% to a seasonally adjusted annual rate of 5.26 million in October from 5.18 million in September. That was the highest level since September 2013. September's figure was revised up from 5.17 million units. Analysts had expected an increase to 5.16 million units. The U.S. consumer price inflation was flat in October, beating expectations for a 0.1% decrease, after a 0.1% increase in September.

The Australian dollar recouped some of its losses as China's preliminary PMI stalled and falling iron ore prices weighed on the currency earlier in the week.

The New Zealand dollar could recover losses against the U.S. dollar as lower milk prices pushed down in- and output producer prices in New Zealand and disappointing Chinese PMI data earlier in the week. China is New Zealand's second biggest export partner. Credit Card spending in October went up +6.7% compared to a +4.4% in September.

The Japanese yen strengthened against the U.S. dollar ahead of a three-day weekend as markets are closed on Monday for a public holiday after Japan's Finance Minister Taro Aso stated that the yen has depreciated too fast. Early in yesterday's session the yen traded at a new seven-year low at USD118.98.

EUR/USD: the euro traded mixed against the greenback

USD/JPY: the U.S. dollar traded weaker against the Japanese yen after new seven-year highs

GPB/USD: The British pound traded slightly weaker against the U.S. dollar

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

08:00 Eurozone ECB President Mario Draghi Speaks

09:30 United Kingdom PSNB, bln October 11.1 6.9

13:30 Canada Consumer price index, y/y October +2.0% +2.0%

13:30 Canada Consumer Price Index m / m October +0.1% -0.3%

13:30 Canada Bank of Canada Consumer Price Index Core, m/m October +0.2% +0.2%

13:30 Canada Bank of Canada Consumer Price Index Core, y/y October +2.1% +2.2%

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