The dollar is up slightly against all of its major rivals Wednesday afternoon. A large amount of U.S. economic data was released this morning and the results were mixed. The disappointing private sector employment report has left investors with some uncertainty ahead of Friday's employment report.
New orders for U.S. manufactured goods increased by much more than expected in the month of March, the Commerce Department revealed in a report on Wednesday. The report said factory orders surged up by 1.1 percent in March after tumbling by 1.9 percent in February.
Activity in the U.S. service sector grew at a faster rate in the month of April, according to a report released by the Institute for Supply Management on Wednesday. The ISM said its non-manufacturing index climbed to 55.7 in April.
Reflecting a steep drop in the value of imports, the Commerce Department released a report on Wednesday showing a notably narrower U.S. trade deficit in the month of March. The report said the trade deficit narrowed to $40.4 billion in March from $47.0 billion in February.
Private sector employment in the U.S. increased by less than expected in the month of April, according to a report released by payroll processor ADP on Wednesday. ADP said the private sector added 156,000 jobs in April following an increase of 194,000 jobs in March.
The British construction sector expanded at the weakest pace in almost three years as spending decisions were delayed by clients on "Brexit" fears, survey data from Markit Economics and the Chartered Institute of Procurement & Supply showed Wednesday. The Markit/CIPS construction Purchasing Managers' Index fell to 52.0 in April from 54.2 in the previous month.
Final Purchasing Managers' survey and retail sales from euro area are due on Wednesday, headlining a light day for the European economic news.
The jobless rate in New Zealand jumped to a seasonally adjusted 5.7 percent in the first quarter of 2016, Statistics New Zealand said on Wednesday.
That missed forecasts for 5.5 percent, and was up from the upwardly revised 5.4 percent in the preceding three months (originally 5.3 percent).
The dollar is turning in a mixed performance Tuesday afternoon. The U.S. currency fell to an 8-month low against the Euro in early trade, but has since clawed its way back to nearly unchanged on the session. The buck is rising against the British pound after a pull back in U.K. manufacturing, but is...
Australian Treasurer Scott Morrison announced an expansionary budget giving thrust to economic growth ahead of the July election. The budget is projected to return to balance by 2021. The government is committed to reducing the deficit by constraining spending while keeping taxes as low as possible, he added.
Eurozone growth and inflation is set to be less than what was expected earlier as high debt levels and insufficient structural reforms on a domestic level and the deteriorating global environment could hurt the economic prospects.
The U.K. factory activity shrank unexpectedly in April, for the first time in three years, signaling that the manufacturing sector entered the second quarter on a poor footing amid "Brexit" fears. The Chartered Institute of Procurement & Supply Purchasing Managers' Index for the manufacturing sector fell unexpectedly to 49.2 in April from a revised 50.7 in March.
The Australian dollar retreated from early highs against the other major currencies in the Asian session on Tuesday after the Reserve Bank of Australia lowered its key rate unexpectedly by 25 basis points as inflationary pressures were weaker than projected.
The board of the Reserve Bank of Australia...
Australia lowered its key rate unexpectedly by 25 basis points on Tuesday as inflationary pressures were weaker than forecast. The board of the Reserve Bank of Australia governed by Glenn Stevens reduced its benchmark cash rate to a record low 1.75 percent from 2.00 percent, effective May 4.
The dollar is losing ground against its major European rivals Monday afternoon, but is modestly higher in comparison to the Japanese Yen. U.S. manufacturing data came in weaker than expected this morning, but most investors are looking forward to the release of the U.S. jobs report for April at the end...