Dollar Mixed After U.S. GDP Data
21 Dezember 2018 - 10:22AM
RTTF2
The U.S. dollar exhibited mixed trading against its major
counterparts in the European session on Friday, after a data showed
that U.S. economy grew slightly less than previously estimated in
the third quarter, reflected by downward revisions to consumer
spending and exports.
Data from the Commerce Department showed that real gross
domestic product surged up by 3.4 percent in the third quarter
compared to the previously estimated 3.5 percent jump. The pace of
GDP growth had been expected to be unrevised.
Separate data showed that U.S. durable goods orders rebounded in
the month of November.
The Commerce Department said durable goods orders climbed by 0.8
percent in November after plunging by 4.3 percent in October.
Economists had expected durable goods orders to jump by 1.6
percent.
Excluding a notable rebound in orders for transportation
equipment, durable goods orders fell by 0.3 percent in November
after rising by 0.4 percent in October. Ex-transportation orders
had been expected to edge up by 0.2 percent.
The threat of a U.S. government shutdown intensified after
President Donald Trump told House Republicans he is unwilling to
sign a short-term spending bill approved by the Senate Wednesday
night due to a lack of funding for his controversial border
wall.
U.S. lawmakers face a midnight deadline to fund key government
agencies such as the Department of Homeland Security, the State
Department and the Interior Department.
The greenback held steady against its major counterparts in the
Asian session, excepting the yen.
The greenback held steady against the yen, after retreating to
111.05 at 3:30 am ET. The pair ended Thursday's trading at
111.28.
The greenback that closed yesterday's trading at 0.9879 against
the franc advanced to 0.9920. On the upside, 1.01 is likely seen as
the next resistance for the greenback.
The greenback rose to 1.1400 against the euro, from an early low
of 1.1474, and held steady thereafter. The pair was valued at
1.1445 when it ended Thursday's trading.
Data from the market research group GfK showed that Germany's
consumer confidence is set to remain steady at the start of next
year as households as the divide between expectations on overall
economic situation and personal finances widened further.
The forward-looking consumer confidence indicator is set to show
a reading of 10.4 in January, unchanged from December. Economists
had forecast a score of 10.3 for January.
The greenback was trading in a positive territory against the
pound with the pair trading at 1.2662. This follows a low of 1.2698
seen at 3:15 am ET. The greenback is poised to find resistance
around the 1.25 mark.
The U.S. personal income and spending data for November and
University of Michigan's final consumer sentiment index for
December are due at 10:00 am ET.
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