TeleTrade - Analytics

    TeleTrade

    763.50 6.50/10
    80% of positive reviews
    Real

    Foreign exchange market. American session: the Canadian dollar declined against the U.S. dollar after the weaker-than-expected Canadian retail sales data | 20.02.2015

     

    The U.S. dollar traded mixed against the most major currencies after the better-than-expected U.S. preliminary manufacturing purchasing managers' index. The index rose to 54.3 in February from 53.9 in January, beating expectations for a decline to 53.7.

     

     

    The euro traded higher against the U.S. dollar. Concerns over new debt talks between Greece and the European Union continue to weigh on the euro. Greece yesterday submitted a request for an extension of its existing loan agreement. But German Finance Minister Wolfgang Schaeuble replied that the Greek loan proposal was "not a substantial proposal for a solution".

     

     

    Another round of talks between Greece and the European Union was scheduled to take place on Friday.

     

     

    Eurozone's preliminary manufacturing PMI increased to 51.1 in February from 51.0 in January, missing expectations for a rise to 51.6.

     

     

    Eurozone's preliminary services PMI rose to 53.9 in February from 52.7 in January. Analysts had expected the index to climb to 53.2.

     

     

    Germany's preliminary manufacturing PMI remained unchanged at 50.9 in February from 51.2 in December, missing forecasts of an increase to 51.8.

     

     

    Germany's preliminary services PMI increased to 55.5 in February from 54.0 in January, beating expectations for a gain to 54.3.

     

     

    France's preliminary manufacturing PMI fell to 47.7 in February from 49.2 in January, missing forecasts of a rise to 49.7.

     

     

    France's preliminary services PMI rose to 53.4 in February from 49.4 in January, exceeding expectations for a gain to 49.9.

     

     

    The British pound traded higher against the U.S. dollar. Retail sales in the U.K. decreased 0.3% in January, missing expectations for a 0.1% drop, after a 0.2% gain in December. December's figure was revised down from a 0.4% rise.

     

     

    The increase was driven by lower food, clothing and footwear sales.

     

     

    On a yearly basis, retail sales in the U.K. climbed 5.4% in January, missing expectations for a 6.0% rise, after a 4.0% increase in December. December's figure was revised down from a 4.3% increase.

     

     

    The public sector net borrowing in the U.K. dropped by £9.4 billion in January, missing expectations for a decline to £9.5 billion, after a rise by£9.9 billion in December. December's figure was revised down from an increase by £12.5 billion.

     

     

    The decline was driven by a tax receipts of self-employed workers and top rate taxpayers.

     

     

    The Canadian dollar declined against the U.S. dollar after the weaker-than-expected Canadian retail sales data. Canadian retail sales plunged by 2.0% in December, missing expectations for a 0.3% decline, after a 0.4% rise in November.

     

     

    That was the biggest fall since April 2010.

     

     

    The drop was driven by lower sales in 9 of 11 subsectors.

     

     

    Canadian retail sales excluding automobiles dropped 2.3% in December, missing expectations for a 0.7% decrease, after a 0.6% gain in November. November's figure was revised down from a 0.7% increase.

     

     

    That was the largest drop since December 2008.

     

     

    The New Zealand dollar traded lower against the U.S. dollar. In the overnight trading session, the kiwi traded higher against the greenback in the absence of any major economic reports from New Zealand.

     

     

    The Australian dollar traded lower against the U.S. dollar. In the overnight trading session, the Aussie traded higher against the greenback in the absence of any major economic reports from Australia.

     

     

    The Japanese yen traded lower against the U.S. dollar. In the overnight trading session, the yen traded lower against the greenback after comments by the Bank of Japan Governor Haruhiko Kuroda. He said in parliament on Friday that there are a lot of policy options, and it is possible to achieve the 2% inflation target.

     

     

    Japan's preliminary manufacturing PMI decreased to 51.5 in February from 52.2 in January, missing expectations for a rise to 52.6.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree