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Forex News: Dollar Rising After Mixed Economic Reports

Dollar Rising After Mixed Economic Reports

04/19/2018 - 14:45:00 (RTTNews)

(RTTNews) - The dollar is up against all of its major rivals Thursday afternoon. Traders are reacting to a trio of U.S. economic reports that were released this morning, the results of which proved mixed.

A report released by the Labor Department on Thursday showed a modest decrease in first-time claims for U.S. unemployment benefits in the week ended April 14th. The report said initial jobless claims edged down to 232,000, a decrease of 1,000 from the previous week's unrevised level of 233,000. Economists had expected jobless claims to dip to 230,000.

Philadelphia-area manufacturing activity unexpectedly saw a modestly faster rate of growth in the month of April, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.

The Philly Fed said its diffusion index for current general activity inched up to 23.2 in April from 22.3 in March, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to dip to 20.1.

A report released by the Conference Board on Thursday showed its index of leading U.S. economic indicators increased in line with economist estimates in the month of March. The Conference Board said its leading economic index rose by 0.3 percent in March after climbing by an upwardly revised 0.7 percent in February.

The dollar has climbed to around $1.2345 against the Euro Thursday afternoon, from an early low of $1.2399.

The buck has broken out to over a 1-week high of $1.4085 against the pound sterling this afternoon, from a low of $1.4245 this morning.

UK retail sales declined more-than-expected in March on unusually cold and adverse weather, official data revealed Thursday. Retail sales including auto fuel, dropped 1.2 percent month-on-month in March, in contrast to a 0.8 percent rise in February, the Office for National Statistics reported. Sales were forecast to fall 0.6 percent.

The greenback slipped to a low of Y107.231 against the Japanese Yen Thursday, but has since bounced back to around Y107.375.

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