Dollar Gains On Japanese Data In Quiet Session
Masterforex-V | Apr 22, 2014 08:26AM ET
DA better-than-expected U.S. forward-looking indicator coupled together with soft Japanese trade figures boosted the dollar on Monday in a quiet session, with many global markets closed for the Easter holiday.
In U.S. trading on Monday, EUR/USDwas down 0.13% at 1.3792.
Earlier in the U.S., the Conference Board reported that its index of leading indicators, which measures future economic activity, has increased to 0.8% in March after 0.5% rise in February, beating expectations for 0.7% reading.
Elsewhere, the Chicago Fed National Activity Index decreased to 0.20 in March from 0.53 in February, in line with expectations.
The numbers reminded investors that even though the timing of rate hikes in the U.S. are remaining unclear, the Federal Reserve remains on track to continue tapering its monthly bond-purchasing program this year as the Economy recovers.
Fed bond purchases, currently standing at $55 billion per month, weaken the Dollar by suppressing interest rates, though talk of their dismantling often bolsters the greenback.
Elsewhere, Japan's March trade deficit widened to ¥1.446 trillion, outpacing a forecast for ¥1.070 trillion figure.
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