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Rich Asplund

Dollar Slips on Euro Strength and Mixed US Economic News

European Union Euro United States GDP Gold eurozone BOJ ECB LDP

The dollar index (DXY00) on Wednesday fell by -0.24%. Strength in the euro weighed on the dollar as the Eurozone Q3 GDP report was stronger than expected. The dollar added to its losses after Wednesday’s economic news showed US Q3 GDP grew less than expected.

Losses in the dollar were limited after the US Oct ADP employment report posted its largest increase in 15 months, a hawkish factor for Fed policy. Also, Sep pending home sales posted their largest increase in 4-1/4 years.

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