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U.S. Dollar Gains on Positive Data

iconNov 28, 2012 09:57
Source:SMM
The U.S. dollar gained strength against most of its major counterparts on Tuesday after data showed the U.S. consumer confidence rose to its highest level in almost five years.

NEW YORK, Nov. 27 (Xinhua) -- The U.S. dollar gained strength against most of its major counterparts on Tuesday after data showed the U.S. consumer confidence rose to its highest level in almost five years.

The Conference Board said its consumer confidence index climbed to 73.7 in November, which was the best reading since February 2008.

Meanwhile, a report from the Commerce Department showed that orders for core capital goods rose 1.7 percent in October, the best showing in five months.

Also, U.S. home prices continued to rise in the third quarter, adding to evidence that the housing market was gradually bottoming out.

According to the S&P Dow Jones Indices, its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, was up 3.6 percent in the third quarter of 2012 compared with the same period in 2011, and was up 2.2 percent from the previous second quarter.

Euro got a brief lift earlier in the session after international creditors reached a deal to release emergency aid funds to Greece.

However, the gains soon faded as investors were still concerned when the tentative deal offered no details to solve the country's long-term debt problems.

In late New York trading, the euro fell to 1.2934 dollars from 1.2963 of the previous session while the British pound bought 1. 6018 dollars, unchanged from the previous session.

The dollar gained to 0.9309 Swiss franc from 0.9287 and to 0. 9943 Canadian dollar from 0.9937.

The dollar bought 82.17 Japanese yen, slightly lower than 82.18 in the previous session.

 

U.S. dollar

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