• American focus: the dollar traded upward

Noticias del mercado

24 octubre 2012

American focus: the dollar traded upward

The euro fell against most major currencies, reaching with respect to the dollar the lowest level in more than a week, after data showed that business activity in the services sector and manufacturing declined in October, more than economists forecast.

The single currency fell against the yen against the fact that the data from Germany showed that German business confidence fell to its lowest level since February 2010.

The euro recovered some losses incurred before, after reports of talks between Greece and international officials on financial aid.

At the same time, market participants are waiting for the accompanying statement by the Committee on the Federal Open Market, which puts pressure on the euro.

It is learned that officials of the European Union, the European Central Bank and the International Monetary Fund rejected the German proposal to tighten Greek access to care. ECB President Mario Draghi said that the so-called "troika" has not made any proposals for Greece. The officials discussed the agreement, which would pave the way for the next payment to the affected countries.

The dollar index (DXY) fluctuated after a report showed that sales of new U.S. homes rose to two-year high in September. Sales climbed 5.7% to 389,000 year on year, after a revised 368,000 in August.

The Australian dollar rose against all 16 most-traded currencies after a report that showed that the PMI index for the manufacturing in China rose in October to the three-month high, reaching the mark with 49.1, compared with 47.9 in September. At the same time, data from Australia showed that consumer prices in Australia increased in the third quarter by 2.0% in annual terms. This value significantly exceeded analysts who had expected annual growth of 1.6% after increasing 1.2% in the second quarter.

The pound rose to a three-month high against the euro on optimism that the UK economy emerged from recession in the third quarter, which led to increased demand for British assets. UK currency rose against all but two of its 16 major counterparts, even after a report showed that the balance of industrial orders fell unexpectedly in October.

The Canadian dollar fell after the governor of the Bank of Canada Carney said that the need to raise interest rates was "less inevitable," after rising in the case of tighter monetary policy.


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