Asian Session – US dollar mostly flat as market awaits Yellen
November 13, 2013 7:33 am
The US dollar was in waiting mode against the euro, as the euro’s moderate rebound this week held, trading unchanged at 1.3435.
In economic data out of Asia, Australian consumer sentiment rose 1.9% in November versus a drop of 2.1% the previous month.
On the other hand, 3rd quarter wages rose by an annual pace of 2.7% against expectations of a 2.9% rise, showing that wage growth is not particularly strong in Australia.
It appears that consumers were getting more of a boost from higher house prices and from the wealth effect they were producing, rather than higher wages.
The Australian dollar posted modest losses against the greenback, retreating 0.09% to 0.9293.
In other news, Japanese wholesale prices rose 2.5% year-on-year during October, which could help Japan climb out of its deflationary hole.
Japanese machinery orders for September were slightly disappointing, as their annual growth was 11.4% versus 12.6% expected by economists.
The dollar gave up a little ground against the yen, falling 0.06% to trade at 99.56, as the dollar has had trouble breaching the 100 yen level.
Looking ahead, it will be an important day for sterling given the release of employment data and the quarterly Bank of England inflation report during the European session.
The pound was down a minor 0.09% to trade at 1.589 against the dollar, not far from its two-month low of 1.5854.
Eurozone industrial production will also be released later.
No major economic data is expected out of the United States before tomorrow’s appearance before the Senate banking committee of nominee for the post of Fed President Janet Yellen.
The US dollar was in waiting mode against the euro, as the euro’s moderate rebound this week held, trading unchanged at 1.3435.
In economic data out of Asia, Australian consumer sentiment rose 1.9% in November versus a drop of 2.1% the previous month.
On the other hand, 3rd quarter wages rose by an annual pace of 2.7% against expectations of a 2.9% rise, showing that wage growth is not particularly strong in Australia.
It appears that consumers were getting more of a boost from higher house prices and from the wealth effect they were producing, rather than higher wages.
The Australian dollar posted modest losses against the greenback, retreating 0.09% to 0.9293.
In other news, Japanese wholesale prices rose 2.5% year-on-year during October, which could help Japan climb out of its deflationary hole.
Japanese machinery orders for September were slightly disappointing, as their annual growth was 11.4% versus 12.6% expected by economists.
The dollar gave up a little ground against the yen, falling 0.06% to trade at 99.56, as the dollar has had trouble breaching the 100 yen level.
Looking ahead, it will be an important day for sterling given the release of employment data and the quarterly Bank of England inflation report during the European session.
The pound was down a minor 0.09% to trade at 1.589 against the dollar, not far from its two-month low of 1.5854.
Eurozone industrial production will also be released later.
No major economic data is expected out of the United States before tomorrow’s appearance before the Senate banking committee of nominee for the post of Fed President Janet Yellen.
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