FOREX TradingCharts.com

Forex News: U.S. Dollar Declines Amid Risk Appetite

U.S. Dollar Declines Amid Risk Appetite

03/07/2024 - 13:17:00 (RTTNews)

(RTTNews) - The U.S. dollar weakened against its major counterparts in the New York session on Thursday, as a downgrade of inflation forecasts by the European Central Bank intensified hopes for a rate cut in June.

The ECB left the key interest rates unchanged and lowered inflation forecasts for this year and the next.

The central bank expects inflation to average 2.3 percent this year, 2.0 percent in 2025 and 1.9 percent in 2026.

U.S. nonfarm payrolls data for February will be published on Friday. The employment is expected to increase by 200,000 jobs in February after an increase of 353,000 jobs in January.

In economic news, the Labor Department released a report showing first-time claims for U.S. unemployment benefits came in unchanged from an upwardly revised level in the week ended March 2nd.

The Labor Department said initial jobless claims came in at 217,000, unchanged from the previous week's revised level.

Economists had expected jobless claims to come in unchanged compared to the 215,000 originally reported for the previous week.

The greenback dropped to more than a 2-month low of 1.2798 against the pound and near a 2-month low of 1.0942 against the euro, off its previous highs of 1.2722 and 1.0867, respectively. The greenback is seen finding support around 1.31 against the pound and 1.11 against the euro.

The greenback weakened to a 2-week low of 0.8774 against the franc and near a 5-week low of 147.57 against the yen, off its early highs of 0.8823 and 149.36, respectively. The greenback is likely to face support around 0.86 against the franc and 144.00 against the yen.

The greenback fell to a 2-week low of 1.3460 against loonie, 1-1/2-month low of 0.6624 against the aussie and an 8-day low of 0.6176 against the kiwi, from its early highs of 1.3525, 0.6560 and 0.6125, respectively. The currency may possibly face support around 1.30 against loonie, 0.68 against the aussie and 0.63 against the kiwi.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Yen Declines As Intervention Risk Rises; BoJ Meeting In Focus (06 hr(s), 11 min(s), 17 sec(s) ago)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Thurs ...Full Story»

Yen Declines Against Majors (08 hr(s), 05 min(s), 18 sec(s) ago)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Thurs ...Full Story»

Canadian Dollar Drops As Retail Sales Fall Unexpectedly (33 min(s), 42 sec(s) ago)
(RTTNews) - The Canadian dollar moved down against its major counterparts in the New York session ...Full Story»

Swiss Franc Slides Against Majors (05 hr(s), 50 min(s), 18 sec(s) ago)
(RTTNews) - The Swiss franc weakened against other major currencies in the European session on Wed ...Full Story»

Yen Declines To Multi-decade Low (06 hr(s), 02 min(s), 18 sec(s) ago)
(RTTNews) - The Japanese yen weakened against their major currencies in the Asian session on Wedne ...Full Story»

Australian Dollar Rises On Strong Consumer Inflation Data (06 hr(s), 50 min(s), 18 sec(s) ago)
(RTTNews) - The Australian dollar strengthened against other major currencies in the Asian session ...Full Story»

U.S. Dollar Falls Against Euro, Pound (07 hr(s), 20 min(s), 18 sec(s) ago)
(RTTNews) - The U.S. dollar weakened against the euro and the pound in the Asian session on Wednes ...Full Story»

Yen Slides Against Majors (07 hr(s), 50 min(s), 17 sec(s) ago)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Wedne ...Full Story»

Search

FOREX NEWS

Yen Declines As Intervention Risk Rises; BoJ Meeting In Focus

04/25/2024 - 04:23 AM (RTTNews)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Thurs ...Full Story>>

Yen Declines Against Majors

04/25/2024 - 02:27 AM (RTTNews)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Thurs ...Full Story>>

Canadian Dollar Drops As Retail Sales Fall Unexpectedly

04/24/2024 - 13:06 PM (RTTNews)
(RTTNews) - The Canadian dollar moved down against its major counterparts in the New York session ...Full Story>>

Swiss Franc Slides Against Majors

04/24/2024 - 04:42 AM (RTTNews)
(RTTNews) - The Swiss franc weakened against other major currencies in the European session on Wed ...Full Story>>

Yen Declines To Multi-decade Low

04/24/2024 - 04:32 AM (RTTNews)
(RTTNews) - The Japanese yen weakened against their major currencies in the Asian session on Wedne ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.