The greenback rallied across the board on Thursday as a bounce in U.S. yields and falling U.S. equities triggered broad-based risk-averse buying in usd.  
  
Reuters reported the number of Americans filing new claims for unemployment benefits increased by the most in four months last week, but the labor market remains tight even as demand for labor is cooling amid higher interest rates.

Some of the larger-than-expected jump in jobless claims reported by the Labor Department on Thursday was partially blamed on Hurricane Fiona, with filings surging in Puerto Rico, which was ravaged by the storm in the second half of September.

Claims data in the coming weeks will likely be distorted by Hurricane Ian, which cut a swath of destruction across Florida and the Carolinas at the end of September.  
  
Versus the Japanese yen, dollar found renewed buying at 144.39 at Asian open and edged higher to 144.77 in Europe. Despite retreating to 144.58 at New York open, price erased its losses and rose to an intra-day high at 145.14 near New York close on usd's broad-based strength due to rally in US yields.  
  
The single currency initially edged up to 0.9926 in Asian morning. Price then met renewed selling and fall to 0.9859 ahead of New York open and then ratcheted lower to an intra-day low at 0.9789 on rally in usd after the European Central Bank published the Monetary Policy Meeting Accounts showed that some officials preferred a lower rate hike of 50 bps.  
  
Despite rebounding to session highs of 1.1383 in Asia, cable then met renewed selling there and fell to 1.1244 in European morning before tumbling to session lows of 1.1114 in New York on usd's strength before staging a recovery.  
  
More news from Reuters, the Bank of England is determined to get inflation back to its 2% target over the medium term, and will have to look beyond short-term financial market turmoil, Monetary Policy Committee (MPC) member Jonathan Haskel said on Thursday. "Given the time it takes for monetary policy to have its full impact, the MPC is focused primarily on the medium and longer-term prospects for the economy," Haskel said in remarks released by the BoE. "The MPC has the tools and resolve to return inflation to target in the medium term," he added.  
  
Data to be released on Friday:  
  
Japan all household spending, coincident index, leading index, China market holiday, Swiss unemployment rate, Germany import prices, industrial output, retail sales, U.K. Halifax house prices, France current account, trade balance, imports, exports, Italy retail sales, U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales, Canada employment change and unemployment rate. 

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Feed news Join Telegram

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD resurfaces from 0.6670 as Australian inflation drops to 6.9%

AUD/USD resurfaces from 0.6670 as Australian inflation drops to 6.9%

The AUD/USD pair has picked bids around 0 .6670 as the Australian Bureau of Statistics has reported a decline in the monthly Consumer Price Index (CPI). The Australian CPI has landed at 6.9% lower than the expectations of 7.4% and the prior release of 7.3%.

AUDUSD News

EUR/USD holds higher ground near 1.0350 ahead of EU inflation

EUR/USD holds higher ground near 1.0350 ahead of EU inflation

EUR/USD picks up bids to refresh intraday high near 1.0340 while snapping a three-day downtrend during early Wednesday. The major currency pair prints mild gains amid the upbeat signals from the options market and cautious mood ahead of crucial data events.

EUR/USD News

Gold traders await the Federal Reserve Chair Jerome Powell

Gold traders await the Federal Reserve Chair Jerome Powell

Gold prices climbed on Tuesday even as the US Dollar and bond yields rose but were capped as traders get set for the Federal Reserve's chair, Jerome Powell, who will speak on Wednesday. China and the Coronavirus spread are keeping markets at bay. 

Gold News

Arguing the case for a Cardano price pullback to $0.35

Arguing the case for a Cardano price pullback to $0.35

Cardano price has produced four lower highs throughout the month, with three connected by a recently breached trendline. A hurdle above $0.322 could create an additional 12% upswing. A four-hour candlestick close below the $0.304 level would invalidate the bullish potential.

Read more

Stock markets recovered from China uncertainty, Fed's Powell next

Stock markets recovered from China uncertainty, Fed's Powell next

S&P 500 recovered from China uncertainty, keeping right below 4,000 until Williams and Bullard reiterated sticky inflation and high rates views. Reiterated – not brought fresh and unexpected information. Still, stocks and much of the rest declined sharply.

Read more

Majors

Cryptocurrencies

Signatures