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Dollar without change before G20 meeting

ForexZig.com February 14, 2013
U.S. Dollar

U.S. Dollar

The American dollar looks lazy in today’s Asian session as market participants expect the beginning of the G20 meeting tomorrow in Moscow. The meeting is going to an end in Saturday.

During the Asian trading from today, currency pair EURUSD increased with 0.01% to 1.3455. The common currency was supported by data published yesterday that showed euro zone production went up with 0.7% in December, disproving expectations for a 0.2% rise and high above November’s 0.7% contraction.

Germany announced that in December industrial production increased with 0.8% after falling for the four previous consecutive months, pushing the risk appetite among investors.

USDJPY moved with 0.09% to 93.50 after Japan’s fourth-quarter GDP reading that pointed a contraction of 0.04%. Analysts had prognosis for growth of 0.04% in the world’s third-largest economy. The yen also weakened after previous Bank of Japan Deputy Governor Kazumasa Iwata, who is likely to be the central bank’s next chief, announced that an exchange rate of 90 to 100 for USDJPY could be bearable.

GBPUSD stayed at 1.5542 after the Bank of England pointed yesterday that U.K. growth will be loose ahead.
In American economic news, the Commerce Department marked that retail sales increased to 0.1% last month, according to economists’ expectations. This is positive for the third consecutive month of gains following December and November rise of 0.5%.

USDCHF increased with 0.01% to 0.9172 while USDCAD moved down to 0.03% to 1.0016 as oil prices advanced. AUDUSD retreated 0.12% to 1.0359 following the positive consumer sentiment report from yesterday. NZDUSD rose with 0.25% to 0.8475. The U.S. Dollar Index decreased 0.01% to 80.16.

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