Forex News: U.S. Dollar Advances After Jobless Claims Data

U.S. Dollar Advances After Jobless Claims Data

(RTTNews) - The U.S. dollar appreciated against its major counterparts in the New York session on Thursday, as weekly jobless claims remained flat last week, indicating continued strength in the labor market.

Data from the Labor Department showed that initial jobless claims came in at 212,000, unchanged from the previous week's revised level. Economists had expected jobless claims to rise to 215,000 from the 211,000 originally reported for the previous week.

Data from the Philadelphia Federal Reserve showed a growth in regional manufacturing activity in the month of April.

The Philly Fed said its diffusion index for current general activity jumped to 15.5 in April from 3.2 in March, with a positive reading indicating growth. Economists had expected the index to edge down to 1.5.

New York Federal Reserve President John Williams said that there is no urgency to lower rates soon.

The greenback climbed to 1.0646 against the euro and 1.2436 against the pound, from an early 6-day low of 1.0690 and a 3-day low of 1.2484, respectively. The greenback is seen finding resistance around 1.03 against the euro and 1.21 against the pound.

The greenback advanced to 154.64 against the yen and 0.9121 against the franc, from an early 2-day low of 153.95 and a 1-week low of 0.9080, respectively. The greenback is likely to face resistance around 158.00 against the yen and 0.93 against the franc.

The greenback recovered to 0.6425 against the aussie, 0.5909 against the kiwi and 1.3771 against the loonie, from its early 3-day lows of 0.6456, 0.5933 and 1.3741, respectively. The greenback is poised to challenge resistance around 0.63 against the aussie, 0.58 against the kiwi and 1.40 against the loonie.

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