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Commodity News |
HeadLine : |
Yen weaker after mixed data on CPI, household spending, jobs |
Date : |
Nov 27 2015 |
The Japanese yen weakened
slightly more on Friday on a mixed data set of household spending,
consumer prices and unemployment with tension between Russia and
Turkey a backdrop.
USD/JPY changed hands at
122.64, up 0.06%, while AUD/USD traded at 0.7217, down 0.13%.
In Japan, household
spending for October slumped 2.4%, widely missing the 0.1%
year-on-year gain seen and down 0.7% month-on-month, compared to an
expected 1.1% gain.
Closely watched national
core consumer prices fell the expected 0.1% year-on-year for October,
but the unemployment rate dropped to 3.1% from an expected 3.4%.
The U.S. dollar index,
which measures the greenback’s strength against a trade-weighted
basket of six major currencies, was up 0.04% at 99,87.
Overnight, the U.S.
dollar edged higher against its Canadian counterpart on Thursday,
hovering close to a two-month peak as expectations for a December
rate hike by the Federal Reserve continued to support the greenback.
The greenback remained
broadly supported after a string of upbeat U.S. data on Wednesday
added to expectations that the Federal Reserve will raise interest
rates next month.
The U.S. Commerce
Department reported on Wednesday that new home sales rose by 10.7% to
495,000 units last month, compared to expectations for a gain of 6.0%
to 500,000.
The report came shortly
after the U.S. Department of Labor said the number of individuals
filing for initial jobless benefits in the week ending November 21
declined by 12,000 to 260,000 from the previous week’s revised
total of 272,000.
Data also showed that
U.S. durable goods orders jumped by 3.0% last month, easily
surpassing forecasts for 1.5%, while core durable goods orders, which
exclude volatile transportation items, rose 0.5% in October, compared
to expectations for an increase of 0.3%.
Source:-Forexpros
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