Dollar Exhibits Mixed Trend Against Peers

Trading 06 mar 2019 Donner votre avis

The U.S. dollar swung between gains and losses against most of its key rivals on Wednesday, with traders reacting to a slew of economic data from across the globe and following news on Brexit, U.S.-China trade issues and Bank of Canada's rate decision.

The greenback was trading slightly lower against the Euro, at $1.1312, after weakening to a low of 1.1326 a unit of Euro earlier in the session. Earlier in the day, the dollar was hovering at 1.1287 against the euro.

Against the British Pound Sterling, the dollar was gaining about 0.06% at 1.3171.

The Canadian loonie dropped after the Bank of Canada left its interest rate unchanged and issued a weak outlook for the Canadian and global economy, citing trade disputes.

The Aussie declined sharply, losing nearly 0.8% against the U.S. dollar, weighed by somewhat disappointing fourth quarter GDP data.

The Japanese yen was stronger against the greenback, gaining about 0.12% at 111.79, after opening at 111.89.

Eurozone's construction activity improved in February, led by upturns in commercial and infrastructure activity and stronger expansion in housing activity, survey data from IHS Markit showed on Wednesday.

The Construction Purchasing Managers' Index, or PMI, rose to 52.6 in February from 50.6 in January.

The Federal Reserve's Beige Book said economic activity continued to expand in late January and February.

The Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts, said ten districts reported slight-to-moderate growth, although Philadelphia and St. Louis reported flat economic conditions.

The Fed noted the prolonged partial government shutdown led to slower economic activity in about half of the districts.

A report from payroll processor ADP showed U.S. private sector job growth slowed in February, increasing by 183,000 jobs, after soaring by an upwardly revised 300,000 jobs in January.

Economists had expected employment to climb by 189,000 jobs compared to the addition of 213,000 jobs originally reported for the previous month.

Data from the Commerce Department showed the U.S. trade deficit widened by more than anticipated in December, as imports jumped and exports slumped.

The Commerce Department said the trade deficit widened to $59.8 billion in December, nearly $2 million more than what was forecast, from a revised $50.3 billion in November.

The substantial monthly increase drove the U.S. trade deficit to its highest level since reaching $60.2 billion in October of 2008.

The trade deficit for 2018 was also the biggest since 2008, widening to $621.0 billion from $552.3 billion in 2017.


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