Investing.com - The U.S. dollar traded higher against most of its major rivals during Thursday’s Asian session after U.S. equities slid for a fifth straight day, prompting traders to scale bank on riskier assets.
In Asian trading Thursday, EUR/USD inched down 0.04% to 1.3521 on what appears to be some profit-taking after the forward looking GfK index of German consumer confidence rose to 7.1 for October, while September’s reading was revised up from 6.9 to 7.0.
GBP/USD nudged down 0.03% to 1.6076 after trading higher during Wednesday’s U.S. session. Sterling was boosted Wednesday after the Confederation of British Industry reported that its retail sales index rose to 34.0 in September from 27.0 in August, the highest level since June 2012. Analysts were expecting the index to decline to 24.0.
USD/JPY fell 0.06% to 98.38 as murkiness over the Federal Reserve’s quantitative easing program and talk of a possible U.S. government showdown over the debt ceiling have sparked demand for non-dollar safe-havens, boosting the yen in the process.
USD/CHF rose 0.08% to 0.9100 while USD/CAD added 0.05% to 1.0320 after the Energy Information Administration said that crude oil stockpiles rose by 2.64 million barrels in the week ending Sept. 20, defying expectations for a 1.13 million decline after a 4.37 million barrel drop in the previous week.
In U.S. economic news out Wednesday, the Commerce Department said durable goods orders rose 0.1% in August, but slid 8.1% in July after the number for that month was revised lower. Economists were expecting a 0.5% decrease in August. Excluding transportation, durable goods orders fell 0.1% last month, below the 1% increase economists forecast.
Separately, the Commerce Department said new home sales rose 7.9% last month to a seasonally adjusted rate of 421,000. On a year-over-year basis, that is a 12.6% increase. Economists expected an August reading of 425,000 units. Sales of new homes rose in all regions except the West.
AUD/USD inched down 0.03% to 0.9365 while NZD/USD rose 0.11% to 0.8251. The U.S. Dollar Index nudged up 0.02% to 80.44.
In Asian trading Thursday, EUR/USD inched down 0.04% to 1.3521 on what appears to be some profit-taking after the forward looking GfK index of German consumer confidence rose to 7.1 for October, while September’s reading was revised up from 6.9 to 7.0.
GBP/USD nudged down 0.03% to 1.6076 after trading higher during Wednesday’s U.S. session. Sterling was boosted Wednesday after the Confederation of British Industry reported that its retail sales index rose to 34.0 in September from 27.0 in August, the highest level since June 2012. Analysts were expecting the index to decline to 24.0.
USD/JPY fell 0.06% to 98.38 as murkiness over the Federal Reserve’s quantitative easing program and talk of a possible U.S. government showdown over the debt ceiling have sparked demand for non-dollar safe-havens, boosting the yen in the process.
USD/CHF rose 0.08% to 0.9100 while USD/CAD added 0.05% to 1.0320 after the Energy Information Administration said that crude oil stockpiles rose by 2.64 million barrels in the week ending Sept. 20, defying expectations for a 1.13 million decline after a 4.37 million barrel drop in the previous week.
In U.S. economic news out Wednesday, the Commerce Department said durable goods orders rose 0.1% in August, but slid 8.1% in July after the number for that month was revised lower. Economists were expecting a 0.5% decrease in August. Excluding transportation, durable goods orders fell 0.1% last month, below the 1% increase economists forecast.
Separately, the Commerce Department said new home sales rose 7.9% last month to a seasonally adjusted rate of 421,000. On a year-over-year basis, that is a 12.6% increase. Economists expected an August reading of 425,000 units. Sales of new homes rose in all regions except the West.
AUD/USD inched down 0.03% to 0.9365 while NZD/USD rose 0.11% to 0.8251. The U.S. Dollar Index nudged up 0.02% to 80.44.