The U.S. dollar extended early morning session's uptrend against its major counterparts in New York mid-day deals on Monday. The greenback climbed to new multi-day highs against the euro and Swiss franc.
Extending previous session's uptrend, the dollar climbed to new multi-day highs of 1.3359 against the euro and 1.1409 versus the Swiss Franc in New York mid-morning trading today.
Eurozone producer prices showed an annual decline of 1.8% in February versus January's 0.7% drop, the Eurostat said. This was the largest fall since April 1999. For the annual variation, economists were looking for a 1.5% fall. Industrial producer prices slid 0.5% month-on-month in February, following a 1.1% decline in January.
In a separate report, the Eurostat said retail sales in the 16-nation bloc slipped by a record 4% in February on a yearly basis. Retail sales decreased by a revised 1.7% in January and the consensus forecast was for a 2.5% decline in February.
Retail sales volume fell 0.6% in February from the previous month. Economists were expecting retail sales to drop just 0.4% in February after rising 0.1% in January.
After touching a multi-week low of 1.4961 by about 7:45 am ET, the greenback edged down against its British counterpart during mid-day deals. As of now, the pair is trading near 1.4728.
Against the Canadian dollar, the greenback also showed strength and currently trading near 1.2437 from European session's low of 1.2233.
In economic news, the Statistics Canada said in a report that Canadian building permits plunged 15.9% month-over-month, compared to the downwardly revised 6.0% decline in the previous month. Economists were expecting just a 4% decline.
At the same time, the U.S. currency ticked down against the Japanese yen in New York morning today. At present, the dollar is trading at 100.72 against the yen. The greenback-yen pair hit a new multi-month high of 101.46 in European trading today.
For comments and feedback: contact email@example.com