U.S. Dollar Steady Ahead of GDP Data By Investing.com

© Reuters. The U.S. dollar remained strong on Friday

Investing.com – The dollar was down slightly but remained near a 10-week high on Friday as investors waited for quarterly economic data.

The , which measures the greenback’s strength against a basket of six major currencies, inched down 0.06% 96.40 by 4:55 AM ET (8:55 GMT).

Investors are waiting for third quarter U.S. data at 8:30 AM ET (12:30 GMT) to see if the economy has progressed enough for the Federal Reserve to continue raising rates.

A strong reading could cause the greenback to strengthen even more.

The U.S. economy is expected to have grown 3.3% the third quarter, compared to 4.2% in the second quarter.

The dollar fell against the Japanese yen, with slipping 0.37% to 111.99. The Canadian dollar was lower, with up 0.51% to 1.3140.

Meanwhile the euro remained under pressure after European Central Bank President Mario Draghi indicated the central bank could extend its asset purchase program. He said Thursday at the post-decision press conference that accommodation remained necessary. The central bank made no changes to its monetary policy, as expected.

inched down 0.02% to 1.1371, its lowest level in nearly two months.

Sterling was flat, with falling 0.01% near a two-month low of 1.2816.

Elsewhere the Australian dollar was lower, with down 0.69% to 0.7029 and decreasing 0.92% to 0.6468.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *