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Dollar in versatile trading

ForexZig.com February 20, 2013
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U.S. dollar against other currency pairs

The American dollar was mixed against the other major currencies during today’s Asian trade due to a flow of data points today. Traders are also affected by some important economic news released yesterday.

During Asian trading today, EURUSD went up with 0.22% to 1.3419 after the ZEW Centre for Economic Research announced earlier that its index of German economic sentiment rose to 48.2 in February, the highest level since April 2010, compared to 31.2 in January.

This was over experts’ expectations for a 35.0 reading and sent the euro gaining against the greenback, which could rise gold prices. Germany is considered to be the largest economy in the eurozone.

In U.S. economic news, the National Association of Home Builders/Wells Fargo Housing Market Index decreased to a reading of 46 in February from 47 in January. The small decrease by the Housing Market Index was unexpected by economists, who had prognosis for the index to rise to 48.

Currency pair USDJPY moved up with 0.11% to 93.67 after Japan’s Finance Ministry announced that the country’s jumped JPY1.63 trillion last month. In previous month, Japanese exports increased with 6.4%, but imports rose 7.3%.

At the same time, GBPUSD added 0.08% to 1.5441 while USDCHF fell with 0.16% to 0.9212. As oil prices went higher, USDCAD rose 0.01% to 1.0117.

AUDUSD decreased 0.09% to 1.0348 after Australia’s Wage Price Index moved to 0.8% in the fourth quarter from 0.7% in the prior quarter. Experts had prognosis for rise to 0.8%. Some investors consider the news as a sign that the Reserve Bank of Australia has room to cut interest at some time this year.

NZDUSD dropped 0.13% to 0.8460 after New Zealand’s producer price inflation suddenly fell to -0.3% in the fourth quarter from -1% in the third quarter. There was prognosis for a fourth-quarter increase of 0.3%. The U.S. Dollar Index decreased 0.14% to 80.44.

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