Dollar broadly higher vs. rivals as U.S. jobless data supports


Shutterstock photo - The U.S. dollar was broadly higher against the other major currencies on Friday, as data showing that U.S. initial jobless claims fell to the lowest level since January 2008 last week continued to support demand for the greenback.

During European morning trade, the dollar was higher against the euro, with EUR/USD slipping 0.11% to 1.3029.

On Thursday, the Department of Labor said the number of individuals filing for unemployment assistance in the U.S. last week fell by 4,000 to a seasonally adjusted 323,000, compared to expectations for an increase of 8,000 to 335,000.

Jobless claims for the preceding week were revised up to 327,000 from a previously reported increase of 324,000.

The data, coming after last week's stronger than expected U.S. nonfarm payrolls report, eased concerns over a slowdown in the labor market.

Earlier Friday, official data showed that Germany trade surplus narrowed less-than-expected in March, falling to EUR17.6 from a surplus of EUR17.7 billion the previous month.

Analysts had expected the trade surplus to narrow to EUR16.5 billion in March.

The greenback was also higher against the pound, with GBP/USD edging down 0.11% to 1.5433.

Elsewhere, the greenback was higher against the yen and the Swiss franc, with USD/JPY climbing 0.68% to trade at 101.30, and with USD/CHF climbing 0.63% to 0.9541.

In Japan, official data showed that Japan's current account swung into a surplus of JPY0.34 trillion in Japan, from a deficit of JPY0.03 trillion the previous month.

Analysts had expected the current account to rise to a surplus of JPY0.48 trillion in March.

The greenback was higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD adding 0.26% to 1.0094, AUD/USD declining 0.46% to 1.0044 and NZD/USD retreating 0.62% to 0.8337.

Earlier Friday, the minutes of the Reserve Bank of Australia's latest policy meeting showed that policymakers lowered its inflation forecast following an interest rate cut this week.

On May 7, the RBA lowered its benchmark interest rate to a record 2.75%.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.22% to 82.97.

Later in the day, the U.S. was to release data on the federal budget balance. - offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
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This article appears in: Investing Forex and Currencies
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