Investing.com - The dollar traded largely higher against most
major currencies on Friday after data revealed a growing U.S.
housing sector, though soft consumer sentiment numbers capped the
In U.S. trading on Friday, EUR/USD was down 0.10% at 1.3698.
The Census Bureau reported earlier that U.S. building permits
rose 8% to 1.080 million units last month, up from an upwardly
revised 1.000 million in March. Analysts were expecting building
permits to rise to 1.010 million units in April, and the
better-than-expected figure gave the greenback support.
The report also showed that housing starts rose to 1.072 million
units in April, from 947,000 in March, whose figure was revised up
from a previously estimated 946,000. Analysts had expected building
starts to rise to 980,000 units last month.
Soft consumer sentiment data watered down the greenback.
The preliminary Thomson Reuters/University of Michigan consumer
sentiment index fell to 81.8 in May from 84.1 in April, confounding
market expectations for a 84.5 reading, which softened the
Meanwhile, the single currency continued to come under pressure
after data released on Thursday revealed that the euro zone's gross
domestic product grew just 0.2% in the first quarter, missing
expectations for a 0.4% growth rate. On a year-over-year basis the
bloc's economy expanded 0.9%, falling short of expectations for
growth of 1.1%.
A separate report showed that the bloc's annual rate of
inflation was unchanged at 0.7% in April, in line with forecasts,
but still well below the ECB's target of close to but just under
Elsewhere, investors continued to track developments in Ukraine,
as U.S. Secretary of State John Kerry warned Russia it faced
broader economic and sector-related sanctions if it meddled in
Ukraine's presidential elections on May 25.
The dollar was down against the yen, with USD/JPY down 0.07% at
101.50 and up against the Swiss franc, with USD/CHF up 0.10% at
The greenback was down against the pound, with GBP/USD up 0.18%
The dollar was mixed against its cousins in Canada, Australia
and New Zealand, with USD/CAD down 0.16% at 1.0866, AUD/USD up
0.10% at 0.9365 and NZD/USD down 0.12% at 0.8634.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, was up
0.02% at 80.11.
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