Dollar falls against currencies after inflation rate figures

The dollar fell against major rivals after inflation figures showed inflation slightly above expectations. The euro was trading at 1.3581 USD from 1.3555 USD, while the British pound was up at 1.6141 USD from 1.6126 USD. Against the yen, the dollar fell from a high of 83.73 JPY to 83.44 JPY. The consumer price index (CPI), the headline figure for inflation, was 1.6% in January on an annual basis, in line with economists' expectations. On monthly basis, inflation rate was 0.4%, above expectations of 0.3%.

Dollar slips on Fed's Bernanke Congress testimony

The dollar gained some ground against the euro and the British pound once Federal Reserve Chairman Ben Bernanke started his speech in front of the Congress. "We have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold", Bernanke said, quoted by media. Also, Bernanke said that inflationary pressures coming from recent oil prices increases will be "temporary and relatively modest". However, he added that “we will continue to monitor these developments closely and are prepared to respond as necessary to best support ongoing recovery in a context of price stability". The euro was trading at 1.3826 USD, after falling below 1.38 USD at 15.00 GMT (10.00 EST), when his testimony started. The British pound bought 1.6312 USD, up 0.27%, from 1.6251 USD at 15.00 GMT.

US unemployment rate drops at 8.9%, nonfarm payrolls grew by 192,000

Nonfarm payrolls grew by a seasonally adjusted 192,000 in February, the fastest pace since last May, the Labor Department said Friday. US unemployment rate fell to a seasonally adjusted 8.9% in February from 9.0% in January, below expectations of 9.1%. This is the lowest level since April 2009. Unemployment dropped by 190,000 to 13.7 million for February, while employment rose, jumping 250,000 to 139.6 million

Dollar low, euro trades at 1.4006 USD

The dollar pared gains against euro and yen and fell after US job data boosted the currency for a short period. The euro managed to break the 1.40 USD barrier and to trade at 1.4006 USD. It was later hanging just below the 1.40 level. Against the Japanese yen, the dollar slipped as low as 82.23 JPY, after reaching a high of 83.00 JPY after employment data was released.

US dollar recovers from years low against Canadian counterpart

The Canadian dollar started to give back its gains against the US dollar that brought the loonie to its highest level since November 2007. The dollar started to recover on easing oil prices and was buying 96.88 Canadian cents, still down 0.23%, but bouncing up from the earlier minimum of 96.94 Canadian cents. The recovery was supported also by Canadian new house prices that rose below expectations in January. The index was up 0.2%, in comparison with expectations of a 0.4% increase, but up from the 0.1% figure the previous month. Crude futures for delivery in April were trading at 105.27 a barrel on the New York Mercantile Exchange, after peaking at 105.92 USD.

US trade balance figures, below expectations

US trade balance widened in January to - 46.3 billion dollars from - 40.3 billion dollars the previous month. Forecasts were showing a trade deficit of 41.5 billion dollars.

Dollar slightly edges lower after weak job and trade deficit data

The dollar pared gains slightly and after the U.S. Labor Department said 397,000 Americans filed first time claims for jobless benefits in the latest week, above expectations of 376,000. Also, a separate report showed the U.S. trade deficit widened more than expected in January, to 46.3 billion dollars from 40.3 billion dollar the previous month. Forecasts were showing a trade deficit of 41.5 billion dollars. The euro had fallen as low as 1.3792 USD before data, but was later buying 1.3805 USD. After reaching a high of 83.17 JPY against the Japanese yen, the dollar was trading at 83.05 JPY. Against the Canadian dollar, the greenback was supported by weaker than expected International Merchande Trade data. The dollar was up 0.45%, at 0.9726 CAD.

US Retail sales, up 1%, above expectations

US retail sales advanced with 1% in February,above analysts expectations of 0.9%, but data came positive for retail sales excluding auto and gas. Excluding auto and gas, retail sales went up 0.6%, above expectations of 0.5% that showed a similar increase with the previous month. Excluding only auto sales, retail sales went up 0.7%, also above expectations of 0.6%. In January, retail sales excluding autos increased with 0.6%.

US consumer confidence drops below expectations

US University of Michigan Confidence index, that measures consumer confidence regarding personal finances, business conditions and purchasing power, fell in March to 68.2, below expectations of 76.3. In February, the index stood at 77.5.

Dollar down on weak consumer confidence report

The dollar fell against major currencies after the release of March Consumer Confidence report. The greenback was buying only 82.02 JPY, close to the day's low of 81.99 JPY. The euro climbed to 1.3837 USD, close to the day's high, from around 1.3820 USD before the news. The British pound bought 1.6036 USD, up from around 1.6015 USD before the news, while the Australian dollar rose to day's high of 1.0069 USD, up almost 0.6%.