In
Asian trading on Wednesday dollar traded mixed to lower against the world's
major global currencies on growing fears regarding actions US policymakers need
to take to steer the American economy away of the ‘’fiscal cliff’’ as time is
running out. EURUSD was down on fears that despite a recent deal that will free
up aid to Greece, the broader European debt crisis won't abate anytime soon.
Many investors seeking safe haven opted for the yen.
Yesterday
Conference Board, a market research group, reported that its index of consumer
confidence rose to 73.7 in November from a reading of 73.1 in October, whose
figure was revised up from 72.2. In other announcement the U.S. Census Bureau
reported that core durable goods orders, which exclude volatile transportation
items, rose by a seasonally adjusted 1.5% in October. Total orders for durable
goods were unchanged last month compared to expectations for a 0.6% decline.
Standard & Poor's/Case-Shiller home price index rose at an annualized rate
of 3.0% in September from a year earlier, beating expectations for a 2.9%
increase.
Later,
the US is to release official data on new home sales, a leading indicator of
economic health, as well as government data on crude oil inventories. Also the
Fed is to publish its Beige Book.
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