Investing.com – The dollar traded higher against a basket of major currencies on Thursday, shrugging off the release of mostly downbeat economic data while the euro fell, after comments from European Central Bank President Mario Draghi.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.15% to 99.00 by 18:09 EDT.
The dollar continued its march higher for a second straight day, despite weaker than expected economic data as both Initial Jobless Claims and Durable Goods Orders were weaker than expected while pending Home Sales fell.
The National Association of Realtors said on Thursday, its Pending Home Sales Index, declined 0.8 percent to 111.4.
Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 257,000 for the week ended April 22, the Labor Department said on Thursday.
Meanwhile, new orders for U.S. durable goods rose 0.7 percent in March, which was far less than the 2.3 percent rise in February and well below expectations for a 1.2 percent increase.
Elsewhere, the euro lost ground against the dollar, after European Central Bank President Mario Draghi said the eurozone’s economic recovery is “increasingly solid” but tempered sentiment by insisting that inflationary pressure “remain subdued”.
Draghi’s comments came fresh on the heels of an interest rate decision from the European Central Bank. The ECB left its benchmark interest unchanged at a record low 0.00%, in line with expectations.
EUR/USD fell by 0.25% to $1.0877 while EUR/GBP lost 0.69% to 0.8430.
Meanwhile, GBP/USD traded at $1.2902, up 0.41%, just shy of session highs but close to six-month highs.
Elsewhere, USD/CAD rose 0.10% to $1.3632, while USD/JPY traded at 111.18, up 0.12%.