On Friday USD index has increased in the Europe market against the international currencies, support with recovery process from the lowest level in nine months which is recorded in the last time of Asian market trading, but it’s on way to record the biggest weekly losses since the last of May, after the Federal Reserve president Janet Yellen remarks about increasing the interest prices, and the American economy today are waiting for an important data about the consumer spending and costumes trust with the economic.
At 11:45 GMT the USD index has increased to the level 95.45 point from the opening level 95.29 point and record the highest level 95.53 point and the lowest level since 27 of September 2016 95.21 points.
USD index has ended yesterday trading with a decreasing by 0.5%, in a third daily loss respectively, because of continuing buying the Europe currencies process EUR and GBP, after the last remarks of the Central Banks Governors in Europe and Britain.
During this week the USD index has losses by 1.6%, and on its way to losing the biggest weekly losses since the last of May, under the pressure of Janet Yellen remarks.
Yellen said that the American Central will continue increasing the interest prices gradually, and added that the suitable to get to the economic targets is to increase the interest prices very gradually to the levels probably still decrease for a long time according to the historical standards.
The investors are waiting today for an important economic data from the United States, especially after the consumer spending data which represent more than 70% from the total domestic product, and the American monetary policy makers are improving this data to continue in increasing the interest prices during this year.
And about the consumer spending levels, the personal spending index for May issued an expectation with an increase by 0.1% and record an increasing by 0.4% in April, and the personal income index issued at the same expected month and increasing by 0.3% from the last reading increasing by 0.4%.
And about the industrial sector, the industrial Chicago index issued expectation from 59.4 in May to 58.1 in June, and about customers trust the last reading will issue for Michigan university index to measure the costumer’s trust during June which is expected the same first reading 94.5 points.
Latest posts by Mohammed Abdelkhalik (see all)