Dollar Eases Off After In-line U.S. Retail Sales Data
14 Febrero 2020 - 04:08AM
RTTF2
The U.S. dollar pulled back against its most major rivals in
early New York deals on Friday, following the release of the
nation's in line retail sales data for January.
Data from the Commerce Department showed that retail sales rose
in line with economist estimates in January.
The Commerce Department said retail sales rose by 0.3 percent in
January after edging up by a downwardly revised 0.2 percent in
December.
Economists had expected retail sales to climb by 0.3 percent,
matching the increase originally reported for the previous
month.
Excluding sales by motor vehicles and parts dealers, retail
sales still rose by 0.3 percent in January after climbing by 0.6
percent in December. Ex-auto sales were also expected to increase
by 0.3 percent.
Data from the Labor Department showed that U.S. import prices
came in flat in the month of January, while export prices
unexpectedly showed a notable rebound.
The Labor Department said import prices were unchanged in
January, while export prices climbed by 0.7 percent
Economists had expected import prices to dip by 0.2 percent.
The greenback fell to 1.0861 against the euro, from near a
3-year high of 1.0827 set at 7:00 pm ET. The greenback is seen
finding support around the 1.10 mark.
Preliminary figures from Destatis showed that German economy
stagnated in the fourth quarter of 2019 amid slower consumption and
weaker exports.
Gross domestic product was unchanged from the previous quarter
on a seasonally and calendar-adjusted basis. Economists had
forecast 0.1 percent growth.
The greenback pared gains to 109.74 against the yen, from a high
of 109.91 seen at 10:00 pm ET. The next possible support for the
greenback is seen around the 108.00 level.
Data from the Ministry of Economy, Trade and Industry showed
that Japan's tertiary industry activity declined unexpectedly in
December.
The tertiary industry activity index fell 0.2 percent
month-on-month in December. Economists had forecast a 0.1 percent
rise.
Having climbed to near a 2-month of 0.9819 at 8:15 am ET, the
greenback moved off to 0.9802 against the franc. On the downside,
0.96 is possibly seen as the next support level for the
greenback.
Data from the Federal Statistical Office showed that
Switzerland's producer and import prices declined in January.
The producer and import prices fell 1.0 percent year-on-year in
January.
In contrast, the greenback held steady against the pound, after
rising to 1.3001 at 8:15 am ET. The pair had finished Thursday's
trading at 1.3038.
The University of Michigan's preliminary consumer sentiment
index for February will be featured in the New York session.
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