The dollar is turning in a mixed performance against its major rivals Friday afternoon, but is little changed overall. On a very busy day on the economic front, the buck is holding onto a slight gain against the Euro, but is down modestly against the Japanese Yen and the British pound.
A report released by the Commerce Department on Friday showed that U.S. personal income rose in line with economist estimates in the month of February, although personal spending inched up by slightly less than expected.
The report said personal income increased by 0.4 percent in February after climbing by an upwardly revised 0.5 percent in January. Economists had expected personal income growth to match the 0.4 percent increase originally reported for the previous month.
Meanwhile, the Commerce Department said personal spending crept up by 0.1 percent in February after rising by 0.2 percent in January. Economists had expected another 0.2 percent increase.
Chicago-area business activity unexpectedly saw a faster rate of growth in the month of March, according to a report released by MNI Indicators on Friday.
MNI Indicators said its Chicago business barometer inched up to 57.7 in March from 57.4 in February, with a reading above 50 indicating growth. The uptick by the business barometer came as a surprise to economists, who had expected the index to edge down to 56.5.
Consumer sentiment in the U.S. improved by less than initially estimated in the month of March, the University of Michigan revealed in a report on Friday. The report said the consumer sentiment index for March was downwardly revised to 96.9 from the preliminary reading of 97.6. Economists had expected the index to be unrevised.
The dollar slipped to a low of $1.0699 against the Euro Friday, but has since bounced back to around $1.0680.
Eurozone inflation eased more than expected in March, flash data from Eurostat showed Friday. Inflation came in at 1.5 percent in March versus 2 percent in February. Economists had forecast the annual rate to ease to 1.8 percent.
A measure signaling macroeconomic trends in the euro area fell in March, after rising in the previous nine months, survey data from the Bank of Italy and the Centre for Economic Policy Research showed Friday. The Eurocoin indicator dropped to 0.72 from 0.75 in February. That was the first decline in the index since May last year.
Germany's retail sales declined at the fastest pace since late 2014 in February, figures from Destatis revealed Friday. Retail sales dropped unexpectedly by real 2.1 percent year-on-year, reversing January's revised 2.7 percent increase.
Germany's unemployment rate remained stable in February, data from Destatis showed Friday. The ILO jobless rate came in at adjusted 3.9 percent in February, the same as in January. Nonetheless, the rate declined from 4.3 percent in February 2016.
German unemployment declined more than expected in March, data from the Federal Labor Agency reportedly showed Friday. The number of unemployed fell by 30,000 in March from February, bigger than the expected decrease of 10,000.
French inflation slowed marginally in March, preliminary data from the statistical office Insee showed Friday. Consumer price inflation eased to 1.1 percent in March, while it was expected to remain unchanged at 1.2 percent.
France's consumer spending decreased unexpectedly in February after rebounding in the previous month, figures from the statistical office INSEE showed Friday. Consumer spending dropped 0.8 percent month-over-month in February, reversing a 0.6 percent rise in January. Meanwhile, economists had expected a 0.1 percent slight increase for the month.
The buck climbed to an early high of $1.2432 against the pound sterling Friday, but has since retreated to around $1.2530.
The UK economy expanded as estimated in the fourth quarter, the third estimate from the Office for National Statistics showed Friday. Gross domestic product climbed 0.7 percent sequentially, unrevised from the second estimate released on February 22. The third quarter growth was revised down by 0.1 percentage point to 0.5 percent.
UK house prices unexpectedly declined in March and the annual increase slowed sharply, survey figures from the Nationwide Housing Society showed Friday. The house price index dropped 0.3 percent from February, when it grew 0.6 percent. Economists had forecast 0.3 percent increase.
The greenback has pulled back to around Y111.365 against the Japanese Yen this afternoon, from an early high of Y112.195.
The average of household spending in Japan was down 3.8 percent on year in February, the Ministry of Internal Affairs and Communications said on Friday, coming in at 260,644 yen. That missed forecasts for a decline of 1.7 percent following the 1.2 percent contraction in January.
The unemployment rate in Japan came in at a seasonally adjusted 2.8 percent in February, the Ministry of Internal Affairs and Communications said on Friday. That was below forecasts for 3.0 percent, which would have been unchanged from the previous month.
Consumer prices in Japan were up 0.3 percent on year in February, the Ministry of Internal Affairs and Communications said on Friday. That topped expectations for 0.2 percent but was down from 0.4 percent in January.
Japan's housing starts dropped for the first time in eight months in February, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Friday. Housing starts dropped by more-than-expected 2.6 percent year-on-year in February, reversing a 12.8 percent rise in January. Economists had forecast a 1.2 percent fall for February.
Industrial output in Japan jumped 2.0 percent on month in February, the Ministry of Economy, Trade and Industry said on Friday. That topped expectations for an increase of 1.2 percent following the 0.4 percent decline in January.
The material has been provided by InstaForex Company - www.instaforex.com
April 01, 2017 at 12:20AM
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