Get 40% Off
💎 WSM is up +52.1% since our AI picked it in December! Unlock all premium stock picksUnlock now

Forex - Dollar remains steady after jobless claims data

Published 09/10/2015, 08:53 AM
Updated 09/10/2015, 08:53 AM
© Reuters.  Dollar holds steady after U.S. jobless claims report

© Reuters. Dollar holds steady after U.S. jobless claims report

Investing.com - The dollar remained steady against the other major currencies on Thursday after data showing that Initial jobless claims ticked lower last week as uncertainty over whether the Federal Reserve will hike rates this month continued to weigh.

USD/JPY was up 0.19% to 120.73, not far from the one-and-a-half week highs of 121.28 hit overnight.

The Department of Labor said the number of individuals filing for initial jobless benefits last week fell by 6,000 to 275,000 from the previous week’s revised total of 281,000, remaining in territory consistent with a strengthening labor market.

The dollar was little changed against the euro and the Swiss franc following the data, with EUR/USD at 1.1205 and USD/CHF at 0.9755.

The dollar was lower against the pound, with GBP/USD up 0.18% to 1.5394.

The pound received a boost after the Bank of England kept monetary policy unchanged on Thursday and said recent market turmoil related to China’s slowdown hasn’t altered the view that the time for a rate increase is approaching.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was fluctuating between small gains and losses and was last at 96.01.

The New Zealand dollar remained sharply lower after the country’s central bank cut interest rates overnight.

NZD/USD was down 1.78% to 0.6280 after the Reserve Bank of New Zealand cut its benchmark interest rate to 2.75% on Thursday.

RBNZ Governor Graeme Wheeler warned that a major slowdown in China could have a negative impact on New Zealand’s economy, underlining fears over a China-led slowdown in global growth.

The Australian dollar was higher, with AUD/USD up 0.63% to 0.7062, boosted by a stronger than expected domestic jobs report.

The Canadian dollar was slightly lower, with USD/CAD easing up 0.1% to 1.3269.

Fresh concerns over the threat of deflation in China hit market sentiment after data on released earlier on Thursday showing that while the annual rate of inflation edged higher in August producer prices fell at the fastest rate in six years.

Official figures showed that the prices charged by China’s manufacturers fell by an annualized 5.9% in August. It was the largest decline since late 2009.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.