AFTERNOON MARKET OVERVIEW
Home Loans record the change in the number of new loans granted for owner-occupied homes. It is a leading indicator of demand in the housing market.
The Australian dollar was lower against its US counterpart on Monday morning after Chinese Fixed Asset Investment rose less than expected last month.
The Aussie was 0.56% lower against the greenback at $0.9964 in morning trading while it was 0.47% lower against the euro at A$1.3021. China is Australia's largest trading partner and the performance of the Chinese economy can have a significant impact on commodity-exporting Australia's currency.
Chinese Fixed Asset Investment – measures the change in the total spending on non-rural capital investments such as factories, roads, power grids, and property – rose 20.6% year on year compared to the previous month's 20.9% showing. Analysts had expected investment to rise by 21%.
AUDJPY 101.48 -0.33%, AUDCAD 1.0100 -0.26%, GBPAUD 1.5391 +0.25%, AUDCHF 0.9563 -0.18%, AUDUSD 0.9980 -0.17%, EURAUD 1.2990 +0.12% and AUDNZD 1.2027 -0.11%.
The franc was up against both the US dollar and the euro on Monday despite a dip Swiss retail sales last month.
The franc was 0.15% higher against the dollar at CHF0.9558 while it was 0.21% up at CHF1.2409 against the single currency.
The National Bureau of Statistics reported that Swiss retail sales in April declined by 0.9% compared to the 2.3% increase a month earlier. Analysts had expected retail sales to rise by 12.8%.
NZDCHF 0.7916 -0.56%, AUDCHF 0.9526 -0.46%, CADCHF 0.9450 -0.32%, USDCHF 0.9553 -0.31%, GBPCHF 1.4686 -0.31%, EURCHF 1.2406 -0.19% and CHFJPY 106.31 +0.13%.
The euro was lower against the dollar and sterling on Monday after the Portuguese consumer price index (CPI) flat-lined last month.
The euro was 0.07% lower against the dollar at $1.2981, while against the pound, the single currency was 0.09% lower at £0.8446 in late morning trading.
The Portuguese CPI printed at 0% last month compared to the previous month's 1.7% increase while analysts had expected a rise of 0.2%.
EURNZD 1.5670 +0.37%, EURAUD 1.3022 +0.28%, EURCHF 1.2406 -0.19%, EURCAD 1.3126 +0.13%, EURGBP 0.8446 +0.12%, EURUSD 1.2985 +0.12% and EURJPY 131.92 -0.05%.
The US dollar pairs are trading in a net-positive direction ahead of those all important retail sales announcements, scheduled for 13:30GMT at the New York open.
The releases are expected to come in better than their respective levels, which will likely see a resumption of the previous upward trends in across the pairs.
USDCHF 0.9553 -0.31%, NZDUSD 0.8285 -0.25%, AUDUSD 0.9970 -0.16%, USDJPY 101.59 -0.16%, EURUSD 1.2985 +0.12%, USDCAD 1.0108 +0.01% and
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