Tue, 27 Oct 2020

U.S. dollar flat amid economic data

Xinhua
01 Oct 2020, 06:05 GMT+10

NEW YORK, Sept. 30 (Xinhua) -- The U.S. dollar was unchanged in late trading on Wednesday as market participants digested a slew of newly-released economic data.

The dollar index, which measures the greenback against six major peers, was unchanged at close at 93.8937.

In late New York trading, the euro decreased to 1.1714 U.S. dollars from 1.1737 dollars in the previous session, and the British pound increased to 1.2897 dollars from 1.2861 U.S. dollars in the previous session. The Australian dollar was up to 0.7161 U.S. dollar from 0.7129 dollar.

The U.S. dollar bought 105.48 Japanese yen, lower than 105.68 Japanese yen of the previous session. The U.S. dollar rose to 0.9212 Swiss franc from 0.9195 Swiss franc, and it decreased to 1.3312 Canadian dollars from 1.3385 Canadian dollars.

On the data front, the U.S. economy contracted at an annual rate of 31.4 percent in the second quarter amid mounting COVID-19 fallout, 0.3 percentage point higher than the previous estimate in late August, the U.S. Commerce Department said in its third and final estimate released Wednesday.

The upward revision with the latest estimate primarily reflected an upward revision to personal consumption expenditures that was partly offset by downward revisions to exports and to non-residential fixed investment, according to the department's Bureau of Economic Analysis.

U.S. private sector employment increased by 749,000 jobs from August to September, U.S. payroll data company Automatic Data Processing reported Wednesday.

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