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Forex - Dollar lower on mixed data points

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Investing.com - The U.S. dollar is trading lower against nearly all of its major rivals during Friday's Asian session following some tepid U.S. economic data points delivered Thursday. That along with the combination of the S&P 500 touching a new record high weighed on the greenback.

In Asian trading Friday, EUR/USD rose 0.12% to 1.2834 after banks in Cyprus reopened with strict capital controls in place after being closed for nearly two weeks.

USD/JPY fell 0.01% to 94.15 after the Statistics Bureau said that Japanese household spending fell to a seasonally adjusted 0.8% in February from 2.4% in January. Analysts had expected Japanese household spending to fall to 0.2% last month.

The Statistics Bureau also said Japan's unemployment rose slightly last month to 4.3% from 4.2%. Analysts expected the number to be unchanged. Japan's national core CPI fell to a seasonally adjusted -0.3% in February from -0.2% in January, according to the Statistics Bureau. Analysts expected the core CPI to fall to -0.4% last month.

Tokyo's core CPI rose to -0.5% in February from -0.6% in the prior month, topping the expectation that the number would remain unchanged, according to the Statistics Bureau.

Japan's Ministry of Economy, Trade and Industry said that industrial production fell to a seasonally adjusted -0.1% in February from 0.3% in January. Analysts expected a February reading of 2.6%.

GBP/USD rose 0.14% to 1.5217 while USD/CHF fell 0.11% to 0.9489. USD/CAD slipped 0.01% to 1.0162 after the Commerce Department revised its estimate of U.S. fourth-quarter GDP growth to 0.4% from 0.1%. Thursday's number was the third of three estimates for the final quarter of 2012. The Labor Department said initial claims for jobless benefits rose by 16,000 to 357,000 last week.

The March reading of the Chicago purchasing managers index fell 4.4% to 52.4%, well below the reading of 56.4% economists expected. Readings above 50% indicate expansion.

AUD/USD fell 0.03% to 1.0411 while NZD/USD rose 0.05% to 0.8375. The U.S. Dollar Index is flat 83.16.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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