The euro and sterling eased versus the dollar as the subprime concern spread from US to European banks. The euro remained below 1.48 against the dollar, and the sterling fell to as low as 2.06.
The greenback was little changed after mixed data this morning. US third quarter GDP rose 4.9%, up from the previous reading of 3.5%. GDP deflator increased from 0.7% to 0.9%, above the estimate of 0.8%. US PCE index, an inflation gauge, remained at 1.7% in the third quarter as expected. US weekly jobless claims rose 22k to 352k, above the estimate of 332k.
Besides, US new home sales fell from 770k to 728k in October, below the estimate of 750k. This confirmed the expectation that the nation’s housing sector is slowing.
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source news fromThe greenback was little changed after mixed data this morning. US third quarter GDP rose 4.9%, up from the previous reading of 3.5%. GDP deflator increased from 0.7% to 0.9%, above the estimate of 0.8%. US PCE index, an inflation gauge, remained at 1.7% in the third quarter as expected. US weekly jobless claims rose 22k to 352k, above the estimate of 332k.
Besides, US new home sales fell from 770k to 728k in October, below the estimate of 750k. This confirmed the expectation that the nation’s housing sector is slowing.
This article contains the following sections:
You need to be logged in to Forexnews to view the remainder of this article. Please login with your username and password at the top left corner of the site, or Request Free username and password to receive full access.
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