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U.S. Dollar Falls After Jobless Claims Rise

4/26/2019, 11:26:58 AMMarket Analysis
U.S. Dollar Falls After Jobless Claims Rise

The greenback slipped on Thursday after the number of people who filed for unemployment rose more than expected last week.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.07% t0 97.790 as of 10:53 AM ET (14:53 GMT).

Data showed that the number of jobless claims had its biggest increase in 19 months last week, even as the trend remains consistent with a strong labor market.

Other data showed that new orders for U.S.-made capital goods increased to an eight-month high in March, but shipments dropped as business spending slowed.

The dollar was down against the safe-haven yen, with USD/JPY slipping 0.1% to 111.72 after the Bank of Japan said it would most likely not increase interest rates for at least another year.

Elsewhere, the euro barely recovered from earlier lows after disappointing business surveys from Germany and France. EUR/USD slipped 0.2% to 1.1146, a level not seen since May 2017. GBP/USD was up slightly at 1.2908, while USD/CAD was at 1.3486.