Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - U.S. Dollar Little Changed, AUD/USD Pair Rises Ahead of Jobs Data

Published 20/01/2020, 05:06 pm
Updated 20/01/2020, 05:12 pm
© Reuters.

© Reuters.

By Alex Ho

Investing.com - The U.S. dollar was near flat on Monday in Asia, while the Aussie dollar gained ahead of the release of the country’s latest jobs data.

The U.S. dollar index was near flat at 97.365. Figures released by the Commerce Department on Friday showed U.S. housing starts in December were well above economists' estimates for 1.38 million and were the biggest gain in 13 years.

Retail sales were also on the rise and a gauge of manufacturing activity rebounded to its highest in eight months.

The positive data reduced chances that the Federal Reserve would slash rates when it meets later this month.

Meanwhile, the AUD/USD pair rose 0.2% to 0.6886 as traders awaited Australian jobs data due on Thursday. The Reserve Bank of Australia meets next month and might announce further stimulus following three rate cuts last year amid widespread bushfires.

The NZD/USD pair also rose 0.2% to 0.6620.

The Chinese yuan gained 0.2% against the U.S. dollar after jumping late last week on strong economic growth figures. China reported that its gross domestic product grew 6% in the fourth quarter, meaning economic growth slowed to 6.1% in 2019. While this is in line with expectations, it’s also the country’s weakest growth in nearly three decades.

The USD/JPY pair was near flat at 110.17.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.