Market Review

On Friday U.S. Dollar was in search of directions, trying to recover from minimum of nearly two years against the euro. The dollar was influenced by several factors, namely the alignment of positions at the end of the week and non-shiny economic data, including a report that pointed out the sharper-than-expected drop in consumer sentiment.

The ICE Dollar Index was 79.206 against 79.211 late Thursday.

WSJ dollar index increased to 71.76 from Thursday’s closing level of 71.70.

According to data of the U.S. Department of Commerce, total of orders for durable goods in September rose by 3.7% compared with the previous month, exceeding the forecast. However, a key indicator of demand, total of orders non registering the volatile transportation sector, in September decreased by 0.1%.

According to the presented report, the final index of consumer sentiment in October fell to 73.2 against the preliminary value of October 75.2 and a final value of September 77.5.
Earlier, the pair EUR / USD reached an intraday maximum of 1.3832, its highest level since November 2011, and then declined and was trading at 1.3802, almost unchanged compared with the closing level of the North American session on Thursday.

The pair GBP / USD rose in the morning, but then fell and was trading at 1.6174 against 1.6170 late Thursday.
First, the pound rose after data showed the growth of UK GDP in the 3rd quarter with the fastest tempo in more than three years. These data signaled that the recovery of the British economy is growing.

The pair USD / JPY traded at 97.31, almost unchanged from Thursday’s closing level.

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