Breaking News

Forex - Greenback slips on jobless claims

ForexApr 26, 2012 02:02PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Investing.com - The dollar slid against most major currencies Thursday after Federal Reserve Chairman Ben Bernanke said he cannot rule out additional monetary stimulus and bearish jobless claims sparked speculation of a slowing economy.

The euro traded higher against the dollar with EUR/USD up 0.15% to 1.3237.

Depressing the greenback, official data indicated U.S. Initial Jobless Claims fell less-than-expected to a seasonally adjusted 388K last week from 389K in the preceding week whose figure was revised up from 386K.

Analysts had expected Initial Jobless Claims to fall to 375K last week.
This news weighed on the worldwide risk sentiment despite pending U.S. home purchases surging 4.1% in March to 101.4, the highest level since April, 2010.

In the euro zone, the European Commission reported that an index of executive and consumer sentiment dropped to 92.8 from a revised 94.5 in March.

Economists were expecting a slide to 94.2 adding to the negative euro region sentiment.

However, Ben Bernanake signaled yesterday that further stimulus from the central bank is unlikely unless the economy surprisingly starts to weaken.
The Fed Chief repeated his goal of keeping borrowing costs low until late 2014, at the earliest.

Meanwhile, the U.S. dollar traded lower against the pound, with GBP/USD up 0.19% to 1.6193.

The pound posted its ninth straight session win against the greenback after a Nationwide Building Society sentiment index jumped to 53 in March from 44 in February.

The U.S. currency was down against the yen, with USD/JPY trading lower by 0.61% to 80.85, and against the Swiss franc, with USD/CHF off by 0.14% to 0.9079.

The Bank of Japan will meet tomorrow and is expected to boost stimulus measures.

The dollar was up against its counterparts in Canada but down Australia and New Zealand, with USD/CAD up 0.09% to 0.9842, AUD/USD higher by 0.33% at 1.0385 and NZD/USD up 0.10% to 0.8139.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded off by 0.13% at 79.03.

Forex - Greenback slips on jobless claims

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Write your thoughts here
Replace the attached chart with a new chart ?
Post also to:
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email