Dollar broadly lower after weak U.S. durables data
Investing.com
Published Aug 26, 2013 08:43AM ET
During European afternoon trade, the dollar fell to session lows against the yen, with USD/JPY down 0.42% to 98.31.
The Commerce Department said durable goods orders dropped 7.3% in July, worse than expectations for a 4% decline. It was the largest decline since August 2012.
Core durable goods orders, excluding volatile transportation items, fell 0.6% last month, defying expectations for a 0.5% increase.
The data came after a report on Friday showed that U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
The weak data added to uncertainty over whether the Fed will start to taper its USD85 billion-a-month asset purchase program next month.
The dollar edged lower against the euro, with EUR/USD easing up 0.06% to 1.3386.
Demand for the single currency continued to be underpinned after a senior European Central Bank policymaker said Friday he did not see many arguments for a rate cut following a recent series of improved economic data from the region.
The dollar fell to session lows against the pound, with GBP/USD up 0.23% to 1.5603.
The dollar gave up gains against the Swiss franc, with USD/CHF dipping 0.04% to 0.9214, off highs of 0.9246.
Elsewhere, the greenback was broadly lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD rising 0.20% to 0.9043, NZD/USD advancing 0.55% to 0.7850 and USD/CAD up 0.10% to 1.0508.
In New Zealand, data on Monday showed that the trade balance swung into a larger than expected deficit of NZD774 million in July, from a surplus of NZD374 million the previous month.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, slipped 0.08% to 81.34.
Trade volumes were expected to remain light on Monday, with markets in the U.K. closed for a national holiday.
Get The News You Want
Written By: Investing.com
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.