NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Dollar gains on upbeat U.S. producer price index

Published 04/11/2014, 03:48 PM
Updated 04/11/2014, 03:50 PM
Dollar gains as U.S. economy continues to improve
EUR/USD
-
GBP/USD
-
USD/JPY
-
USD/CHF
-
AUD/USD
-
USD/CAD
-
NZD/USD
-
DX
-

Investing.com - The dollar traded mixed to higher against most major currencies on Friday after U.S. consumer sentiment and wholesale pricing reports beat expectations.

In U.S. trading on Friday, EUR/USD was down 0.03% at 1.3883.

Upbeat U.S. indicators supported the greenback on Friday.

The preliminary Thomson Reuters/University of Michigan consumer sentiment index came to 82.6 in April, beating expectations for a 81.0 reading.

Separately, official data showed that the U.S. producer price index rose 0.5% in March, exceeding expectations for a 0.1% gain, after a 0.1% fall the previous month.

Core producer price inflation, which is stripped of volatile food, energy and trade items, rose 0.6% in March, beating expectations for a 0.2% rise after a 0.2% decline in February.

Still, growing market consensus that the Federal Reserve is nowhere close to tightening policy watered down the greenback's gains.

Meanwhile across the Atlantic, the euro saw some support after Greece made a successful return to the financial markets on Thursday, raising €3 billion in its first bond auction since 2010, when Athens sought its first bailout.

The dollar was up against the yen, with USD/JPY up 0.07% at 101.61, and down against the Swiss franc, with USD/CHF down 0.10% at 0.8757.

The greenback was up against the pound, with GBP/USD down 0.28% at 1.6737.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.35% at 1.0974, AUD/USD down 0.18% at 0.9397 and NZD/USD up 0.10% at 0.8689.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.09% at 79.55.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.