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The dollar fell ahead of Fed results

2019-05-01 03:47 pm | Resource: News | No Views : 174

 The dollar fell ahead of Fed results

The Dollar was trading against the major currencies after data released from the US on Wednesday and ahead of the Fed meeting results

US spending on construction unexpectedly retreated 0.9% in March

A report released by the Commerce Department on Wednesday showed an unexpected drop in spending on US construction in March.

Construction spending fell 0.9 percent to an annual rate of $ 1.282 trillion in March after rising 0.7 percent to a revised $ 1.293 trillion in February, the report said. Economists had expected spending to rise by 0.1 percent. The unexpected drop in construction spending was partly due to a sharp drop in spending on private housing construction, which fell 1.8 per cent to $ 500.9 billion.

The US manufacturing index points to the slowest growth in more than two years

Manufacturing activity in the United States slowed more-than-expected in April, according to a report released by the Supply Management Institute on Wednesday, with activity expanding at its slowest pace in more than two years.

The report showed that its PMI fell to 52.8 in April after unexpectedly rising to 55.3 in March, its lowest level since October 2016. Still reading above 50 indicates growth in the manufacturing sector, although economists expected that The index shows a more modest decline to 55.0.

"Comments from the committee reflect the continued expansion of the business force, but at the lowest level since the fourth quarter of 2016," said Timothy Fury, Chairman of the ISM Manufacturing Survey Committee.

Dollar down after US data
  • The dollar recorded a decline to 111.19 against the yen
  • The Swiss Franc rose against the dollar to 1.0144
  • The dollar traded at 1.3078 against the pound after the data
  • The dollar fell to 1.1242 against the euro at 17:02 CET.

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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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