Plus   Neg

Dollar Little Changed As Week Draws To A Close


The dollar is turning in a mixed performance against its major rivals Friday afternoon, but remains little changed overall. Investors appeared reluctant to make any major moves heading into the weekend. Traders continue to keep an eye on the situation in Syria, as well as trade relations between the U.S. and China.

Economic data was on the light side at the end of the trading week, but the one major report that was released came in weaker than anticipated.

After reporting U.S. consumer sentiment at a fourteen-year high in the previous month, the University of Michigan released a report on Friday showing sentiment has pulled back by much more than expected in the month of April.

The report said the preliminary reading on the consumer sentiment index for April came in at 97.8 compared to the final March reading of 101.4. Economists had expected the index to edge down to 100.5.

The dollar rose to an early high of $1.2306 against the Euro Friday, but has since retreated to around $1.2335.

The euro area trade surplus increased in February as the decline in imports was bigger than the fall in exports, Eurostat reported Friday.

Exports fell 2.3 percent in February from January. At the same time, imports declined 3.1 percent.

The trade surplus rose to a seasonally adjusted EUR 21 billion from EUR 20.2 billion in January.

Germany's consumer price inflation accelerated in March, as initially estimated, final data from Destatis showed Friday. Inflation rose to 1.6 percent from 1.4 percent in February. The rate came in line with the flash estimate published on March 29.

The buck dropped to a 2 1/2 month low of $1.4296 against the pound sterling Friday morning, but has since rebounded to around $1.4245.

The greenback climbed to a high of Y107.778 against the Japanese Yen Friday morning, but has since pulled back to around Y107.450.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT