Investing.com - The U.S. dollar was mixed against its major counterparts Friday, as bleak consumer sentiment figures battled with data showing a rise in spending in the world’s largest economy.
In early U.S. trade, the greenback was higher against the euro, with EUR/USD falling 0.09% to hit 1.4229.
Early Friday, a Census Bureau said that U.S. core retail sales rose to a seasonally adjusted 0.5%, from a revised figure of 0.2% in the previous month. Analysts had expected U.S. core retail sales to rise 0.2% last month.
But the promising sales figures were tempered by the release of the University of Michigan index on consumer sentiment which dropped to 54.9 from 63.7 in July. Economists had expected a reading of 61. It was the lowest reading for the index since May of 1980.
The sentiment reading covers how consumers view personal finances as well as business and purchasing conditions. The UoM Index averaged 87 in the year before the start of the most recent economic slowdown..
Shares on Wall Street reacted positively to the release of retail sales figures, pared gains, then rebounded in a wobbly session for U.S. stocks.
In early Friday trade, the Dow Jones Industrial Average rose 1.02% to 11,256, the Nasdaq Composite Index gained 0.71% to 2,511, and the S&P 500 climbed 0.75% to trade at 1,181.
The greenback was down against the pound with GBP/USD adding 0.34% to 1.6295.
The dollar lost ground against the Japanese yen but was higher against the Swiss franc with USD/JPY dropping 0.14% to hit 76.73, and USD/CHF higher by 0.92% to hit 0.7688.
The greenback was higher against its Canadian, Australian and New Zealand counterparts with USD/CAD up 0.44% to hit 0.9882, AUD/USD down 0.15% to hit 1.0341 and NZD/USD lower by 0.19% to hit 0.8301.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.12% at 74.67.
In early U.S. trade, the greenback was higher against the euro, with EUR/USD falling 0.09% to hit 1.4229.
Early Friday, a Census Bureau said that U.S. core retail sales rose to a seasonally adjusted 0.5%, from a revised figure of 0.2% in the previous month. Analysts had expected U.S. core retail sales to rise 0.2% last month.
But the promising sales figures were tempered by the release of the University of Michigan index on consumer sentiment which dropped to 54.9 from 63.7 in July. Economists had expected a reading of 61. It was the lowest reading for the index since May of 1980.
The sentiment reading covers how consumers view personal finances as well as business and purchasing conditions. The UoM Index averaged 87 in the year before the start of the most recent economic slowdown..
Shares on Wall Street reacted positively to the release of retail sales figures, pared gains, then rebounded in a wobbly session for U.S. stocks.
In early Friday trade, the Dow Jones Industrial Average rose 1.02% to 11,256, the Nasdaq Composite Index gained 0.71% to 2,511, and the S&P 500 climbed 0.75% to trade at 1,181.
The greenback was down against the pound with GBP/USD adding 0.34% to 1.6295.
The dollar lost ground against the Japanese yen but was higher against the Swiss franc with USD/JPY dropping 0.14% to hit 76.73, and USD/CHF higher by 0.92% to hit 0.7688.
The greenback was higher against its Canadian, Australian and New Zealand counterparts with USD/CAD up 0.44% to hit 0.9882, AUD/USD down 0.15% to hit 1.0341 and NZD/USD lower by 0.19% to hit 0.8301.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.12% at 74.67.