Foreign exchange market. American session: the U.S. dollar climbed against the most major currencies because of the better-than-expected durable goods orders but lost its gains later

The U.S. dollar climbed against the most major currencies because of the better-than-expected durable goods orders. The U.S. durable goods orders rose 2.6% in March from 2.2% in February. It is the highest increase since November 2013. The projected figure was 2.2%. But later, the U.S. dollar lost its gains. The number of initial jobless claims rose 24,000 to 329,000 for the week ended April 19.

The euro declined against U.S. dollar to 1.3790 but recovered quickly. The reason for this movement were the U.S. durable goods and initial jobless claims figures.

The New Zealand dollar increased against the U.S. dollar and reached a one-week high of $0.8638. The reason for the strength of New Zealand dollar was the hike of interest rate by the Reserve Bank of New Zealand. The central bank raised its interest rate to 3.0% from 2.75%. This decision was expected by market participants. The Reserve Bank of New Zealand governor Graeme Wheeler said this move is necessary because of the inflationary pressures. The likelihood is very high that the central bank will hike interest rates again in June. But later, the New Zealand dollar lost its all gains.

The British pound traded mixed against the U.S. dollar. The better-than-expected CBI retail sales volume balance figure supported the British currency. The CBI retail sales index rose to 30 in April from 13 in March. Analysts forecasted the increase to 18. The better-than-expected U.S. durable goods orders put under pressure the British currency.