Forex - Dollar little changed vs. euro, yen after U.S. data
Investing.com
Published Jun 12, 2014 09:04AM ET
Dollar steady against euro and yen after U.S. data
Investing.com - The dollar little changed against the euro and the yen on Thursday after data showed that U.S. retail sales rose less than expected in May but the previous month was revised higher and a separate report showed that initial jobless claims rose only slightly last week.
USD/JPY was almost unchanged at 102.01, holding above the more than one-week low of 101.85 struck in the previous session.
The Labor Department reported that the number of people filing for initial jobless benefits in the week ending June 7 increased by 4,000 to 317,000. The consensus forecast had been for a decline of 3,000.
The unexpected increase in jobless claims was not seen as altering the view that the labor market is continuing to gradually improve.
At the same time, the Commerce Department said U.S. retail sales rose 0.3% in May, falling short of expectations for a 0.6% gain. However, retail sales for April were revised up to a 0.5% gain from a previously reported increase of 0.1%.
Core retail sales, which exclude automobile sales, eased up 0.1% in May, disappointing forecasts for a 0.2% increase. Core sales in April were revised up to 0.4% from a previously reported flat reading.
EUR/USD was steady at 1.3538, not far from the four-month low of 1.3502 set last Thursday.
The euro has weakened broadly since the European Central Bank cut all its main rates to record lows last Thursday and imposed negative deposit rates on commercial lenders for the first time, in a bid to stave off the risk of deflation in the euro zone.
The single currency showed little reaction earlier in the day after official data showed that industrial production in the region rose 0.8% in April, ahead of forecasts for a 0.4% increase.
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.