US dollar ticks down after mixed reports

NEW YORK, Sept. 29 (Xinhua) -- The U.S. dollar fell marginally in late trade on Friday, following weaker-than-expected inflation data and encouraging consumer sentiment report.

The dollar index, which measures the greenback against six major peers, was down 0.10 percent at 106.1156 in late trade.

U.S. inflation, as measured by the change in the personal consumption expenditures (PCE) price index, rose to an annualized 3.5 percent in August from 3.4 percent in July, the Bureau of Economic Analysis reported on Friday.

Annual core PCE, the Federal Reserve's preferred inflation gauge, rose 3.9 percent in August, a slightly weaker pace than the 4.3 percent increase in July.

The University of Michigan also released the final reading of the Michigan Consumer Sentiment report for September on Friday.

The report indicated that the Consumer Sentiment Index fell from 69.5 in August to 68.1 in September, compared with the analyst consensus of 67.7. The US dollar climbed back above the 106.00 level after the report.

While in the euro zone, consumer prices rose at an annual rate of 4.3 percent this month, down from 5.2 percent in August, the European Commission's statistics arm reported on Friday.

Britain's economy in the three months to the end of June 2023 was 1.8 percent bigger than in the final quarter of 2019, the last full quarter before the start of the Covid-19 pandemic, the Office for National Statistics said on Friday.

In late New York trading, the euro rose to US$1.0578 from US$1.0553 in the previous session, and the British pound rose to US$1.2206 from US$1.2196.

The US dollar bought 149.4190 Japanese yen, higher than 149.2380 Japanese yen from the previous session. The US dollar fell to 0.9154 Swiss francs from 0.9162 Swiss francs and it rose to 1.3554 Canadian dollars from 1.3500 Canadian dollars. The US dollar was down to SEK 10.8972 from SEK 10.9344.


https://nord.news/2023/09/29/us-dollar-ticks-down-after-mixed-reports/?feed_id=47424

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