Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - U.S. Dollar Remains Steady as Jobless Claims at 5-Week Low

Published 17/01/2019, 15:16
Updated 17/01/2019, 15:55
© Reuters.

© Reuters.

Investing.com - The greenback was steady on Thursday as jobless claims data showed the government shutdown has yet to have an impact on jobs.

The number of people who filed for unemployment assistance in the U.S. hit its lowest level in five weeks, despite 27 days of a government shutdown which has furloughed 800,000 federal workers.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.11% to 95.77 as of 10:16 AM ET (15:16 GMT). The currency remain subdued after recent comments by Federal Reserve officials suggesting further interest rates are unlikely in the next few months.

The Fed will hold its next policy-setting meeting on Jan. 29-30.

The loonie was lower against the dollar, with USD/CAD rising 0.3% to 1.3294, as analysts expect the Bank of Canada to delay interest rate hikes until April, Reuters reported.

The Fed's on hold, and Canada and the U.S. really don't have any meaningful inflation pressure. There is just no rush for the Bank to be really more aggressive with rates and that's what they have signaled," said Benjamin Reitzes, Canadian rates and macro strategist at BMO Capital Markets.

The yen, typically sought by investors as a safe haven during times of economic or market stress, was a touch lower against the dollar, with USD/JPY slipping 0.13% to 108.92.

Meanwhile sterling was a touch higher after U.K. Prime Minister Theresa May survived a vote of no confidence in her government. GBP/USD was up 0.2% to 1.2905.

The euro dipped, with EUR/USD falling 0.08% to 1.1387.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.