💥 Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

Dollar remains broadly lower in subdued trade

Published 05/16/2016, 10:50 AM
Dollar holds onto losses, U.S. data weighs
EUR/USD
-
GBP/USD
-
USD/JPY
-
USD/CHF
-
AUD/USD
-
USD/CAD
-
NZD/USD
-
GS
-
DX
-
CL
-

Investing.com - The dollar remained broadly lower against the other major currencies in subdued trade on Monday, after data showed that manufacturing conditions in the New York region contracted for the first time in three months in May, as new orders and shipments turned negative.

USD/JPY was up 0.17% to 108.83.

The Federal Reserve Bank of New York said that its general business conditions index fell to -9.0 this month from 9.6 in April. Analysts had expected the index to decline to 6.5.

The safe-haven yen strengthened earlier, after official data showed that China’s factory output slowed to 6% in April, against expectations of 6.5%.

Investment and retail sales also grew more slowly than expected last month, adding to concerns over a slowdown in the world's second-largest economy.

In Japan, government spokesman Yoshihide Suga on Monday denied weekend media reports that Prime Minister Shinzo Abe has decided to delay a sales tax hike scheduled for next year.

EUR/USD added 0.14% to 1.1329.

The dollar was steady the pound and the Swiss franc, with GBP/USD at 1.4387 and with USD/CHF at 0.9762.

The Australian and New Zealand dollars were higher, with AUD/USD up 0.32% at 0.7296 and with NZD/USD edging up 0.13% to 0.6793.

Elsewhere, USD/CAD slid 0.22% to trade at 1.2911.

The commodity-related loonie found support as oil prices climbing to their highest level since November after Goldman Sachs (NYSE:GS) said the market shifted into deficit in May due to falling production.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.13% at 94.48, still near Friday’s three-week high of 94.84.

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.