Forex ­dollar rises to its highest against the yen after strong u.s. data

Forex ­dollar rises to its highest against the yen after strong u.s. data

The dollar rose against the yen during trading on Monday traded near the highest rate in 12 years after upbeat u.s. economic reports on manufacturing activity and construction spending. The USD/JPY rose to the highest price of the session when 124.34, not far from the highest price in 12 years by 124.45 record set last Thursday, up from 124.02 just before the data around. The dollar rose after the Institute for supply management manufacturing index for may major acceleration in addition to the new orders and employment alike. Index of manufacturing activity rose to 52.8 from 51.5 in April while expectations for registering 52.0. Index of recruitment from 48.3 in April to 51.7 in March, while new orders rose 53, 5 to 55, 8. Another report showed that u.s. construction spending rose to its highest level in six and a half years in April, adding to signs that the economy is recovering after its decline in the first quarter.

 The Commerce Department reported that construction spending rose by 2.2% to an annual rate of 1.0 trillion dollars, the highest level since November 2008. Earlier in the day, the official data showed that consumer spending in the United States was without change unexpectedly in April after increasing 0.5 percent in March. Demand for the dollar remained supported by expectations of interest rate from the Federal Reserve Board later this year.

Aurtva the dollar also slipped against the euro, with the euro/dollar rate of 0.73% to 1.0908. 

The single currency continued to face selling pressure amid fears Greece’s inability to pay the debt which heavier on morale.

 The Greece to pay 305 million euros to the International Monetary Fund on 5 June. And fears of possible shortages after Athens warned last month that it would not be able to repay, if no agreement was reached on the cash transaction versus economic reforms with international creditors by then. 

The Greece to pay 305 million euros to the International Monetary Fund on 5 June. At the same time, Monday’s data showed that the manufacturing sector in the euro area recorded a modest growth for the month of May.

 And purchasing managers index hit 52.2 unchanged for the final reading for the month of March, the highest level in 10 months, but down slightly from the initial estimate of 52.3. Still weak in key economies in the region continues, the decline of the manufacturing sector in France and Germany recorded modest growth. Also, the dollar index, which measures the dollar against a basket of six major currencies rose 0.66% to 97.59, not far from the highest price in five weeks and day 17 h last when 97.88.  

THE END

thanks for visiting

Forex­dollar rises to its highest against the yen after strong u.s. data

Forex ­GBP/USD rises over a week ahead of the Bank of England

Forex­GBP/USD rises over a week ahead of the Bank of England

Sterling rose to its highest level in a week against the u.s. dollar Thursday, while investors awaited the Bank of England’s monthly statement of policy later today in addition to the weekly jobless claims data from the United States. We have trading GBP/USD to score during European trading 1.5414 Tuesday morning, its highest price since May 27. And coherence of the pair later when 1.5393, up 0.35%. And the pound is likely to find support at 1.5248, lowest price on Wednesday and resistance at 1.5478. Highest level since 26 May.

 During later Thursday was expected to be the Bank of England to leave interest rates unchanged at 0.50% in addition to leave the asset purchase programme at 375 billion pounds. And on Wednesday, the pound suffered after the selling pressure index services Marquette PMI to 56.5 last month from 59.5 in April. 

It is the lowest rate since December. Economists were expecting the index to record 36.8. And market participants await the issuance of the weekly report on us jobless claims scheduled later the same day, plus non­farm payroll on Friday in search of other indicators of the strength of the labour market in the country.

 On Wednesday, payroll processing company said that the private sector in the United States, said a job in the past month, advanced slightly on expectations that were awaiting further 200,000 jobs, suggesting that the recovery in the labor market is moving in the right direction. Also declining Sterling against the euro, with the euro/pound to 0.34% of trades when 0.7337. 

THE END

thanks for visiting

Forex ­GBP/USD rises over a week ahead of the Bank of England