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  • Foreign exchange market. American session: the U.S. dollar traded mixed to lower against the most major currencies after the disappointing U.S. new home sales
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24.10.2014, 15:41

Foreign exchange market. American session: the U.S. dollar traded mixed to lower against the most major currencies after the disappointing U.S. new home sales

The U.S. dollar traded mixed to lower against the most major currencies after the disappointing U.S. new home sales. New home sales in the U.S. climbed 0.2% to a seasonally adjusted annual rate of 467,000 units in September from 466,000 units in August. That was the highest since July 2008.

August's figure was revised down from 504,000 units. The Commerce Department also revised the sales figures for July and June.

Analysts had expected new home sales to reach 473,000 units.

Trade was cautious due to fears about the spread of the Ebola virus in the U.S. News said that a doctor who had worked in Africa had tested positive for the Ebola virus in New York City.

The euro traded higher against the U.S. dollar. The Gfk German consumer confidence index increased to 8.5 in November from 8.4 in October, beating forecasts for a decline to 8.1. October's figure was revised up from 8.3.

Belgium's business climate index rose to -6.8 in October from -7.2 in September, beating expectations for a decline to -7.8.

Market participants are awaiting the results of stress tests. The European Central Bank will announce the results of stress tests on Sunday.

The British pound higher against the U.S. dollar after the U.K. gross domestic product. The U.K. gross domestic product (GDP) climbed 0.7% in the third quarter, in line with expectations, after a 0.9% rise in the second quarter.

On a yearly basis, the U.K. GDP increased 3.0% in the third quarter, in line with expectations, after a 3.2% rise in the second quarter.

The New Zealand dollar traded slightly higher against the U.S. dollar. In the overnight trading session, the kiwi dropped against the greenback despite the weaker-than-expected trade deficit from New Zealand. New Zealand' trade deficit widened to NZ$1,350 million in September from NZ$472 million in August. Analysts had expected the trade deficit to rise to NZ$620 million.

Exports dropped at annual rate of 5.3% in September, while imports surged at annual rate of 23.0%.

The Australian dollar traded higher against the U.S. dollar in the absence of any major economic reports from Australia.

The Japanese yen traded mixed against the U.S. dollar. In the overnight trading session, the yen traded higher against the greenback due to increasing demand for safe-haven assets on fears about the spread of the Ebola virus in the U.S. News said that a doctor who had worked in Africa had tested positive for the Ebola virus in New York City.

No major economic reports were released in Japan.

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