Sterling gained against the Dollar after a report showed UK housing prices have increased for a fifth successive month. The Pound rose from near the lowest level in six weeks versus the Dollar. House prices increased 2.1 percent this month.
Meanwhile, the Euro remained unchanged versus the Dollar in the higher end of the range after the Italian industrial sector posted diverse results during March. Industrial sales shrank 7.6% while orders dropped 10%.
Also, US factory output declined and the motion in the housing sector eased. Progress in the jobs market also weakened as new claims for unemployment benefits rose with the balance of news releases adding to concerns over the impact of planned US government spending cuts. Despite the downbeat US data, the Dollar proved to be fairly resilient posting gains against the Euro and Sterling over the week.
Posted in Daily Market News on May 30 2014
After a strong couple of weeks for USD US inflation fell for the second consecutive month in April, the first back-to-back monthly declines since late 2008. CPI inflation decreased by 0.4% on the month dropping the headline annual rate to 1.1%.VIEW FULL ARTICLE
Posted in Daily Market News on May 17 2013 by alex