Forex – Dollar broadly higher following Asian data points

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Investing.com – The U.S. dollar traded higher against its major rivals during Thursday’s Asian session following the release of several marquee regional data points.

In Asian trading Thursday, EUR/USD fell 0.13% to 1.3506. Data released on Wednesday revealed that German industrial production rose 1.4% in August, above expectations for a 1.0% gain. Germany is the euro zone’s largest economy. Later Thursday, the European Central Bank is to publish its monthly bulletin, which outlines the bank’s economic outlook.

USD/JPY climbed 0.30% to 97.66 after the Economic and Social Research Institute said that Japan’s core machinery orders 5.4% in September after being flat in August. Analysts expected a September increase of 2%.

In a separate report, the METI said its Japanese tertiary industry activity index rose by 0.7% last month after contracting 0.4% in August. Analysts expected the tertiary index to rise by 0.5% in September.

GBP/USD fell 0.09% to 1.5942 after data showed that U.K. industrial production fell at the fastest rate in nearly a year in August, raising doubts over the outlook for third quarter growth.

The Office for National Statistics said U.K. industrial production fell 1.1% in August, defying expectations for a 0.4% increase after inching up 0.1% in July. The ONS said manufacturing production fell by a seasonally adjusted 1.2% in August, confounding expectations for a 0.4% increase.

USD/CHF climbed 0.21% to 0.9120 while USD/CAD rose 0.13% to 1.0409 after the U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 6.8 million barrels in the week ended Oct. 4, well above expectations for an increase of 1.5 million barrels.

In U.S. economic news out Wednesday, the Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity rose 1.3% for the week ending October 4. The index fell 0.4% in the prior week.

AUD/USD fell 0.18% to 0.9418 even after the Australian Bureau of Statistics said the country’s September unemployment rate fell to 5.6% from 5.8% in August. Analysts expected a reading of 5.8%.

In a separate report, the Statistics Bureau said Australia’s employment change increased by 9,100 after falling by 10,200 in August. Analysts expected a September change of 15,000.

NZD/USD dropped 0.28% to 0.8277 while the U.S. Dollar Index rose 0.16% to 80.58.



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