Toroption 13:46:06 GMT / 22 June 2016
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U.S. Dollar edge higher after a strong ADP report – 30/11

Dollar remains higher after new U.S. data


The U.S. economy shows more signs of strength on Wednesday.

The U.S. Dollar remained moderately higher against other major currencies on Wednesday, after the release of mixed U.S. data and as investors awaited additional economic reports later in the day.

U.S. payroll processing firm ADP said non-farm private employment rose by 216,000 in November, above forecasts for an increase of 165,000.

The economy created 119,000 jobs in October, whose figure was revised downwards from a previously reported increase of 147,000.

Meanwhile, the U.S. Commerce Department said that personal spending increased by 0.3% in October, below expectations for a 0.5% gain.

As for personal income, it rose by 0.6% in October, compared to expectations for 0.4% advance.

In the euro zone, data earlier showed that the consumer price index rose by 0.6% this month, in line with forecasts and the biggest increase since April 2014.

A separate report showed that the number of unemployed people in Germany declined by 5,000 in November, in line with expectations.

Data also showed that German retail sales increased by 2.4% in October, beating expectations for a 1.0% rise. However, year-on-year, German retail sales dropped 1.0% last month.

Elsewhere, GBP/USD slipped 0.14% to 1.2476.

USD/JPY advanced 0.74% to 113.21, while USD/CHF gained 0.32% to 1.0149.

The Australian dollar was weaker, with AUD/USD down 0.45% at 0.7449, while NZD/USD added 0.11% to 0.7137.

Earlier Wednesday, the Australian Bureau of Statistics reported that building approvals dropped 12.6% in October, confounding expectations for a 1.5% gain.

Data also showed that the ANZ business confidence index for New Zealand slipped to 20.5 this month from a reading of 24.5 in October.




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