Dollar Mixed After U.S. Consumer Inflation Data
2019年11月13日 - 06:16PM
RTTF2
The U.S. dollar came in mixed against its major counterparts in
the European session on Wednesday, after the release of the
nation's consumer inflation data that showed a better than expected
reading for the month of October.
Data from the Labor Department showed that consumer price index
climbed by 0.4 percent in October after coming in unchanged in
September. Economists had expected consumer prices to rise by 0.3
percent.
Excluding food and energy prices, core consumer prices edged up
by 0.2 percent in October after a 0.1 percent uptick in September.
The uptick in core prices matched economist estimates.
The dollar declined early in the European session as Trump
threatened to raise tariffs if a trade deal is not reached.
The President mentioned that the China deal could happen soon
but didn't give details about progress on interim trade deal with
China.
Trump blamed China for cheating on trade, thereby widening U.S.
trade deficit from the past.
Fed Chair Jerome Powell will testify on the economy before the
congressional Joint Economic Committee at 11:00 am ET.
The currency showed mixed trading against its major counterparts
in the Asian session. While it was steady against the euro and the
pound, it fell against the franc. Against the yen, it rose.
The greenback held steady against the franc, after having
dropped to an 8-day low of 0.9893 at 5:00 am ET. At yesterday's
close, the pair was worth 0.9930.
Reversing from a high of 109.15 seen at 3:30 am ET, the
greenback declined to a 6-day low of 108.76 against the yen. Next
key support for the currency is likely seen around the 106.00
level.
Data from the Bank of Japan showed that Japan's producer prices
fell at a slower rate in October.
The producer price index fell 0.4 percent year-on-year in
October, following a 1.1 percent decline in September. Economists
had expected a 0.3 percent fall.
The greenback remained higher against the euro, with the pair
trading at 1.1006. The greenback has set a new 4-week high of
1.0999 at 3:15 am ET. The greenback is poised to challenge
resistance around the 1.09 mark.
Data from the Eurostat showed that Eurozone's industrial
production decreased at the slowest pace in four months in
September, which was also less severe than the fall economists had
predicted.
Industrial production decreased 1.7 percent year-on-year
following a 2.8 percent slump in August. Economists had forecast a
2.3 percent decline.
The greenback was trading higher at 1.2840 against the pound, up
from a low of 1.2862 it recorded at 5:00 pm ET. The greenback is
likely to face resistance around the 1.27 region, if it gains
again.
Data from the Office for National Statistics showed that UK
consumer price inflation eased more-than-expected in October.
The consumer price index rose 1.5 percent year-on-year following
a 1.7 percent increase in September. Economists had expected the
inflation rate to drop to 1.6 percent.
The U.S. monthly budget statement for October will be featured
in the New York session.
At 11:00 am ET, Federal Reserve Chair Jerome Powell will testify
on the economy before the Joint Economic Committee in Washington
DC.
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