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U.S. Dollar Slips Ahead of Key GDP Reports

4/26/2019, 2:00:08 PMTrading Strategies
U.S. Dollar Slips Ahead of Key GDP Reports

The U.S. dollar slipped on Friday in Asia as markets await the key first-quarter GDP data due later in the day.

The U.S. dollar index that tracks the greenback against a basket of other currencies was down 0.1% at 97.873 by 11:40 PM ET (03:40 GMT).

Overnight, the U.S. Department of Labor reported that initial jobless claims rose by 37,000 to a seasonally adjusted 230,000 for the week ended April 21, missing economists’ forecast for a rise to 199,000.

The Commerce Department said on Wednesday core durable goods orders rose 0.4% last month, beating economists' forecasts for a 0.2% rise.

Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rose 1.3% last month, well above expectations for a 0.1% increase.

Meanwhile, the USD/CNY pair slipped 0.1% to 6.7346.