The dollar has continued to trade nearly unchanged against both the Euro and the Japanese Yen on Friday, extending the trend from the prior session. However, the U.S. currency has gained some ground against the pound sterling, following the British GDP report.
With orders for transportation equipment showing a significant increase, the Commerce Department released a report on Friday showing that orders for U.S. manufactured durable goods rose by much more than expected in the month of September.
The report said durable goods orders jumped 3.7 percent in September after inching up by a revised 0.2 percent in August. Economists had expected orders to increase by about 2.5 percent compared to the 0.1 percent uptick originally reported for the previous month.
Consumer sentiment in the U.S. deteriorated by more than previously estimated in the month of October, according to a report released by Thomson Reuters and the University of Michigan on Friday. The report showed that the consumer sentiment index for October was downwardly revised to 73.2 from the preliminary reading of 75.2.
Wholesale inventories in the U.S. increased by slightly more than expected in the month of August, according to a report released by the Commerce Department on Friday. The report said wholesales inventories rose by 0.5 percent in August following an upwardly revised 0.2 percent increase in July.
Economists had expected wholesale inventories to increase by 0.4 percent compared to the 0.1 percent uptick originally reported for the previous month.
The dollar climbed to a high of $1.3773 against the Euro Friday morning, but has since pulled back to around $1.3800, nearly unchanged for the day.
Confidence among German businesses declined unexpectedly in October as firms turned less optimistic about the future operating conditions, a survey by the Ifo Institute revealed Friday. Companies’ assessment of the current conditions was also less positive compared to September.
The business climate indicator fell to 107.4 from 107.7 in September, while economists had forecast an increase to 108. The deterioration in the Ifo index was the first in six months.
The greenback slipped to an early low of $1.6246 against the pound sterling on Friday, but has since climbed to around $1.6160.
The U.K. economy expanded in the third quarter at the fastest rate since 2010 with widespread growth across all sectors, preliminary data from the Office for National Statistics showed Friday.
Gross domestic product grew 0.8 percent sequentially in the third quarter, slightly faster than the 0.7 percent expansion logged in the preceding three months. The rate matched economists’ expectations. The economy expanded for the third consecutive quarter.
The buck fell to over a 2-week low of Y96.935 against the Japanese Yen this morning, but has since bounced back to around Y97.400, nearly unchanged for the session.
Core consumer prices in Japan climbed 0.7 percent on year in September, the Ministry of Internal Affairs and Communications said on Friday. The result was in line with forecasts and down from 0.8 percent in August.
An index measuring corporate service prices in Japan was up 0.7 percent on year in September, the Bank of Japan said on Friday, standing at 96.2. That was below forecasts for an increase of 0.8 percent following the upwardly revised increase of 0.7 percent in August.