Arab Today, arab today dollar mixed amid positive us data
Last Updated : GMT 03:33:17
Arab Today, arab today
Arab Today, arab today

Dollar mixed amid positive US data

Arab Today, arab today

Arab Today, arab today Dollar mixed amid positive US data

Dollar mixed amid positive US data
New York - XINHUA

The U.S. dollar traded mixed against major currencies Tuesday after rallying in the previous session amid encouraging U.S. economic data.
U.S. new orders for manufactured goods in April increased for three consecutive months, up 0.7 percent to 499.8 billion U.S. dollars, the highest level since 1992, the Commerce Department said Tuesday. Economists had expected the reading to add 0.5 percent.
Meanwhile, data from Eurostat, the statistics office of the European Union, showed eurozone inflation fell to 0.5 percent in May from 0.7 percent in April, far below the European Central Bank (ECB)'s 2 percent target.
The fall of eurozone inflation leaves room for taking more monetary stimulus measures for ECB policymakers, who will meet on Thursday to discuss the monetary policy.
ECB President Mario Draghi has said recently the euro's strength is hurting the central bank's effort to boost inflation, which increased speculation that the ECB may expand monetary stimulus.
However, the euro was strong on Tuesday as analysts believe ECB easing actions may not drag down the euro further more.
Investors are keeping on eye on the U.S. Labor Department's non- farm payroll report for May scheduled for release on Friday.
In late New York trading, the euro rose to 1.3623 dollars from 1.3596 dollars of the previous session, and the British pound stayed flat at 1.6746 dollars. The Australian dollar climbed to 0. 9257 dollars from 0.9245 dollars.
The dollar bought 102.52 Japanese yen, higher than 102.46 yen of the previous session. The dollar went down to 0.8968 Swiss francs from 0.8988 Swiss francs, and it moved up to 1.0912 Canadian dollars from 1.0902 Canadian dollars.

 

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