{"id":44000,"date":"2013-04-29T09:50:00","date_gmt":"2013-04-29T09:50:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-trades-broadly-lower\/43991\/"},"modified":"2013-04-29T09:50:00","modified_gmt":"2013-04-29T09:50:00","slug":"forex-market-update-u-s-dollar-trades-broadly-lower","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-trades-broadly-lower\/44000\/","title":{"rendered":"Forex Market Update: U.S. Dollar Trades Broadly Lower"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>The U.S. dollar traded broadly lower on Monday after weaker than expected first quarter GDP data (released on Friday) raised expectations that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> will keep continuing its monetary easing measures to shore up the economy.<\/p>\n<p><span id=\"more-44000\"><\/span><\/p>\n<p>At around 8:30 a.m. EST, the WSJ $ Index was down 0.40% at 73.31. The euro gained 0.41% against the dollar to trade at $1.31.03. The greenback fell 0.19% against the yen to trade at 97.79.<\/p>\n<p>Earlier on Friday, the U.S. first quarter GDP data (preliminary reading) showed that the economy expanded at 2.5% annualized rate compared to analysts\u2019 estimation of 3%. However, the growth rate was faster than fourth quarter\u2019s, when the GDP rose merely by 0.4%, annualized rate.<\/p>\n<p>The unexpectedly weak U.S. economic data will probably hold back the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> from squeezing or completing halting its monthly $85 billion worth, bond purchase program. Speculation is rife that the Federal Reserve will continue with its quantitative easing (QE3) by the year-end.<\/p>\n<p>The Federal Reserve\u2019s policy rate meeting (FOMC) kick-starts on Tuesday and the decision will be out on Wednesday. Central bank\u2019s accommodative monetary policy spurs inflationary concerns which in turn prompt investors to look for higher yielding currencies.<\/p>\n<p>Meanwhile the euro gained on Monday as speculation of more monetary easing from the ECB subsided while an end to political stalemate in Italy also lifted the common currency. According to Reuters, (poll conducted last Thursday), only 43 out of total 76 economists polled expected that the ECB will cut benchmark interest rate by 25 basis points.<\/p>\n<p>\u201cLast week it was all go, go go &#8211; everyone was factoring in a rate cut\u2026There&#8217;s a bit of a reconsideration now, and a look at the reasons why the ECB may decide just to make no move,\u201d said\u00a0 Sarah Hewin, senior economist at Standard Chartered Bank, according to Reuters.<\/p>\n<p>In Italy, the newly elected coalition government is expected to announce series of economic-recovery measures, this week.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130501191811\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.4\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fforex-market-update-u-s-dollar-trades-broadly-lower%2F44000&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130501191811js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-fall-sharply-silver-prices-also-tumble-11\/44094\">\nGold Prices Fall Sharply; Silver Prices Also Tumble<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-float-in-red-territory-2\/44091\">\nStocks Float in Red Territory<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/u-s-stocks-edge-lower-in-early-trading-7\/44088\">\nU.S. Stocks Edge Lower in Early Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-broadly-lower-as-the-market-anticipates-no-change-in-feds-policy\/44084\">\nForex Market Update: U.S. Dollar Broadly Lower as the Market Anticipates No Change in Fed\u2019s Policy<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-slip-silver-prices-down-as-well-3\/44080\">\nGold Prices Slip, Silver Prices Down as Well<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/futures-slightly-higher\/44079\">\nFutures Slightly Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/dreamworks-animation-comfortably-beat-streets-q1-estimates-dwa\/44075\">\nDreamWorks Animation Comfortably Beat Street\u2019s Q1 Estimates (DWA)<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130501191811im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. dollar traded broadly lower on Monday after weaker than expected first quarter GDP data (released on Friday) raised [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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