The US-dollar continues falling after today's US economic data. An early increase in interest rates by the Fed is looking increasingly unlikely. The Euro climbs, however briefly above the mark of 1.08 US dollars.
US economic data remains disappointing
The economic data from the US economy also today remain below the expectations of analysts. For new building permits a decrease of 2.0 percent was already expected, actually the number of new permits fell by 5.7 percent. The figures from the US labor market remains weak. The number of applications for unemployment benefits rose from 282K to 294K. Even today's speech by Fed member and President of the Bank of Atlanta, Dennis Lockhart, supports speculation that an increase in interest rates will be further delayed. Lockhart said, he sees no increase in interest rates before inflation does not rise visible. In his opinion this would not happen before the second half of the year. Until inflation reached a sufficiently stable level, the year is likely to a close. The US dollar loses in the sequence in almost all peers. The euro is rising against the US dollar currently at 0.86 percent, at 1.0775 USD, according to a high of 1.0818 US dollars. The highest-winner against the US dollar today is the Australian dollar, which increased by better than expected employment figures across the board. The pair AUS/USD currently rises to 1.49 percent, at 0.7794 US-dollar.
Economic signals support the euro
The euro rose again, one day after the ECB meeting, and now exceeds stable above 1.07 US dollars. After the euro was initially fallen back to the mark of 1.06 USD in Asian trading, and was supported by the testimony of the four German economic research institutes about a forthcoming strong upswing in Germany. The institutes expect an increase in economic output of 2.1%, which is compared to the last report by autumn 2014, an increase of 0.9%. The European automotive industry, today announced significant increases in sales. The number of newly registered vehicles increased compared to the same month last year by 10.6 percent, and even rose by 32 percent in the crisis-hit Spain.
Australian employment rises 150% more than expected
The change in the number of employed people in Australia has exceeded the assumptions of analysts far. The published figures on labor market data for February were corrected from 15,6K to 41,9K upwards, and in March, the number of employed persons increased by a further 37,7K. Thus, the unemployment rate did not increase as expected, to 6.3%, but fell by 0.1% to 6.1% now. By positive signals from the Australian labor market, the Australian dollar rose in today's trading in almost all peers. Against the US dollar, AUD rises by 1.49% currently at 0.7794, and the euro is falling against the AUD currently 0.66%, bei1,3822 AUD.