Apr 15, 2021 07:41 GMTFXStreet News
DXY is up smalls around 91.70 ahead of the European opening.
Fed’s Powell said the economy is expanding quickly.
Retail Sales, Initial Claims next of note in the calendar.
The greenback, in terms of the
US Dollar Index (DXY), trades slightly on the positive territory around the 91.70 region ahead of the opening bell in the European markets on Thursday.
US Dollar Index now looks to data
The index so far reverses three consecutive daily pullbacks and manages to rebound from recent multi-week lows in the mid-91.00s.
The leg lower in the dollar comes amidst the steady performance in yields of the key US 10-year reference, which remain side-lined around the 1.63% region for the time being.
(Bloomberg) Most Asian equities dipped Thursday after U.S. indexes eased from all-time peaks, with the drop in cryptocurrency exchange Coinbase Global Inc. overshadowing strong bank earnings. Oil trimmed earlier gains. Shares fell in Hong Kong and China as the Chinese central bank’s liquidity operations signaled it’s seeking to contain rising leverage. U.S. equity futures edged higher, after Coinbase traded down in its Nasdaq debut and the S&P 500 Index retreated. Bank stocks in the U.S. gained on revenue windfalls for some of America’s largest banks. European contracts dipped. The dollar inched up after three straight days of losses, and the benchmark 10-year Treasury yield held around 1.63%. Investors are also watching for further tremors from the sharp selloff in the bonds of distressed-debt enterprise China Huarong Asset Management Co., which has pushed investment-grade spreads higher. With equities hovering around record levels, traders are monitoring the earnings season f
US jobless claims plunged to 576,000 last week, hitting their lowest level of the COVID-19 pandemic.
Economists expected a reading of 700,000 claims. The previous count was revised higher to 769,000.
Continuing claims edged slightly higher to 3.73 million for the week that ended April 3.
The number of Americans applying for unemployment insurance tumbled last week as the labor market s rebound got back on track.
New jobless claims totaled an unadjusted 576,000 last week, according to the Labor Department. That handily beat the median estimate of 700,000 claims from economists surveyed by Bloomberg.
The sum is the lowest since claims first shot higher at the start of the COVID-19 pandemic and ends a two-week streak of gains. The previous week s reading was revised higher to 769,000.
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