The US Dollar is little moved against the Pound and the majority of its most traded peers after economic data released on Monday showed mixed fortunes for the world’s largest economy.
According to the Washington based Commerce Department, retail sales rose less than expected in June as demand lessened at restaurants and DIY stores. Sales increased by 0.4%, down from the 0.5% increase recorded in May.
Economists had been expecting a rise of 0.8%. Retail sales figures that do not include car sales fell to stagnation at 0%, new car sales increased by their biggest margin since November 2012.
“Consumers are spending cautiously,” Ryan Sweet a senior economist at Moody’s Analytics Inc. in West Chester Pennsylvania, said before the report. “There is still some lingering uncertainty, mortgage rates have ticked up and the stock market has been volatile. Consumer spending is going to improve in fits and starts. We’ll start to see spending pick up late this year.”
In comparison to the slowdown in retail sales the Empire State Manufacturing Index showed that manufacturing in the US continues to make modest improvements. The data showed an improvement of 9.5% in June, its highest reading since February and up from the 7.8% recorded in May.
Monday’s mixed data is likely to see the US Dollar come under pressure later in the week as on Thursday the US Federal Reserve will give its latest hints as to whether the Central Bank will taper its monetary easing policy.
Current US Dollar (USD) Exchange Rates
< Down > Up
The US Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6622 >
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7665 >
The US Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.020 <
The US Dollar/Japanese Yen Exchange Rate is currently in the region of: 100.0851 <
The US Dollar/Canadian Dollar Exchange Rate is currently in the region of: 1.0404<
The Pound Sterling/ US Dollar Exchange Rate is currently in the region of: 1.5101 <
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3045
The Canadian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9611 >
The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.7780 >
(Correct as of 14:45 pm GMT)
Comments are closed.