Dollar rises after release of US data

Dollar rises after release of US data According to trading data, the dollar is strengthening on Friday evening - traders are evaluating statistics on the US and Europe and continue to playback the statements of the head of the Federal Reserve, Jerome Powell, according to trading data, Report
Finance
July 16, 2021 20:45
Dollar rises after release of US data

According to trading data, the dollar is strengthening on Friday evening - traders are evaluating statistics on the US and Europe and continue to playback the statements of the head of the Federal Reserve, Jerome Powell, according to trading data, Report informs, citing Prime.

As of 18.33 (Baku time), the euro-dollar exchange rate declined to $ 1.1805 from the previous closing level of $ 1.1812 per euro. The dollar-yen exchange rate rose to 110.14 yen from the previous closing level of 109.86 yen per dollar. The dollar index (the dollar's exchange rate against a basket of currencies of six countries — the main trading partners of the United States) rose by 0.1%, to 92.72 points.

Statistics on the United States partially supported the US currency. Thus, the volume of retail sales in the country in June unexpectedly increased by 0.6% compared to May, while analysts expected a decrease of 0.4%. The decline in May was revised up to 1.7% from 1.3%.

At the same time, the University of Michigan Consumer Sentiment Index, reflecting the degree of household confidence in the US economy, in July, according to preliminary estimates, unexpectedly fell to 80.8 points from 85.5 points a month earlier. However, analysts had predicted an increase to 86.5 points.

Traders also paid attention to the statistics on the eurozone. Inflation in the region in June, according to the final estimate, was expected to slow down to 1.9% from 2% a month earlier. The eurozone's trade surplus unexpectedly fell to 7.5 billion euros in May from 10.9 billion in April.

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