The dollar is turning in a mixed performance against its major rivals Friday afternoon, but is little changed overall. Trading activity has been light ahead of the long New Year’s Day holiday weekend. There has been little economic data to drive trading as the year draws to a close.
Growth in Chicago-area business activity slowed by much more than anticipated in the month of December, according to a report released by MNI Indicators on Friday. MNI Indicators said its Chicago Business Barometer slid to 54.6 in December after jumping to a nearly two-year high of 57.6 in November.
While a reading above 50 indicates continued growth in Chicago-area business activity, economists had expected the index to show a much more modest drop to 57.0.
The dollar dropped to 2-week low of $1.0591 against the Euro Friday morning, but has since bounced back to around $1.0530.
A measure signaling macroeconomic trends in the euro area rose for a seventh consecutive month to end the year at its highest level since 2011, survey data from the Bank of Italy and the Centre for Economic Policy Research showed Friday.
The Bank of Italy/CEPR Eurocoin indicator rose to 0.59 from 0.45 in November, the highest level recorded since spring of 2011, the Bank of Italy said in a statement.
Italy’s producer prices continued to decline in November but the pace of decrease slowed from prior year, figures from the statistical office Istat showed Friday. Producer prices decreased only 0.3 percent on a yearly basis in November after easing 0.6 percent in October.
Spain’s inflation more than doubled to the highest level in 41 months in December, according to flash data from the statistical office INE, published Friday. Inflation rose more-than-expected to 1.5 percent in December from 0.7 percent in November. This was the highest since July 2013, when inflation was 1.8 percent.
Greece’s retail sales increased for the second consecutive month in October, preliminary figures from the Hellenic Statistical Authority showed Friday. Retail trade turnover climbed 1.3 percent year-over-year in October, slower than previous month’s 1.7 percent rise.
The buck dropped to a 1-week low of $1.2387 against the pound sterling Friday morning, but has since rebounded to around $1.2330.
Britons’ housing equity injections decreased in the third quarter, the Bank of England reported Friday. Housing equity injections declined to GBP 10.92 billion from GBP 13.06 billion in the second quarter.
The greenback climbed to an early high of Y117.195 against the Japanese Yen Friday, but has since eased back to around Y116.825.
The material has been provided by InstaForex Company – www.instaforex.com
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