The U.S.
dollar traded mixed against the most major currencies after the release of the
U.S. economic data. U.S. building permits increased to 1.080 million units in
April, from 1.000 million units in March. March’s figure was revised up from
0.990 million units. Analysts had expected an increase to 1.010 million units.
That was the highest level since 2008.
U.S.
housing starts rose to 1.072 million units in April, from 0.947 million in
March. March’s figure was revised up from 0.946 million units. Analysts had
forecasted an increase to 0.980 million units. That was the best figure since
November 2013
The
preliminary Thomson Reuters/University of Michigan consumer sentiment index dropped
to 81.8 in May, from 84.1 in April. Analysts had expected an increase to 84.7.
The euro
traded lower against the U.S. dollar. The weak GDP growth in the Eurozone
continued to weigh on the euro. The new stimulus measures by ECB in June are
more likely after the release of several weak economic data in the Eurozone.
Eurozone’s
trade balance surplus climbed to 15.2 billion euro in March, from 15.0 in
March. Analysts had expected an increase to 17.3.
But the
sale of Eurozone’s peripheral government bonds also had a negative impact on
the euro. Market participants sold Eurozone’s peripheral government bonds amid
speculation the region’s economy remains weak.
The British
pound traded higher against the U.S. dollar due to mixed U.S. economic data. No
economic data was published in the U.K.
The
Canadian dollar traded little changed against the U.S. dollar. Foreign
securities purchases’ figure was released in Canada. Foreign securities purchases
decreased by C$1.23 billion in March, after a C$6.07 billion in increase in
February. February’s figure was revised down from a C$6.08 billion rise. Analysts
had expected a gain by C$7.21 billion.
The New
Zealand dollar traded little changed against the U.S. dollar. Investors
continue to back the U.S. dollar. No economic data was published in New
Zealand.
The
Australian dollar traded higher against the U.S. dollar. No economic data was
published in Australia.