Dollar remains broadly higher, eyes on Fed minutes

Shutterstock photo - The U.S. dollar remained broadly higher against the other major currencies on Thursday, ahead of the minutes of the Federal Reserve's latest policy meeting as concerns over the U.S. debt ceiling continued to dampen sentiment.

During U.S. morning trade, the dollar was higher against the euro, with EUR/USD dropping 0.58% to 1.3110.

The euro shrugged off official data showing that the number of unemployed people in Germany rose far less-than-expected in November, rising by 3,000 after a 5,000 increase the previous month.

Analysts had expected the number of unemployed people to rise by 10,000 in November.

Investors remained concerned over the longer term fiscal outlook in the U.S., with negotiations on raising the U.S. debt ceiling still to come in February.

Echoing the growing nervousness over the debt ceiling debate, a spokesman from the International Monetary Fund warned that "more remains to be done" to lower the U.S. debt load.

The greenback was also higher against the pound, with GBP/USD sliding 0.56% to 1.6165.

Earlier in the day, Markit research firm and the Chartered Institute of Purchasing & Supply said that their U.K. construction purchasing managers' index fell to a seasonally adjusted 48.7 in December from a reading of 49.3 in November, slowing to a six-month low.

Economists had expected the index to ease up to 49.5 last month.

Elsewhere, the greenback was lower against the yen, with USD/JPY declining 0.48% to trade at 86.90, but higher against the Swiss franc, with USD/CHF climbing 0.50% to 0.9225.

The greenback was mixed to higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD adding 0.09% to 0.9860, AUD/USD rising 0.11% to 1.0516 and NZD/USD slipping 0.11% to 0.8331.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.43% to 80.24.

In the U.S., payroll processing firm ADP said earlier that non-farm private employment rose by a seasonally adjusted 215,000 in December, above expectations for an increase of 133,000.

The previous month's figure was revised up to a gain of 148,000 from a previously reported increase of 118,000.

Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending December 29 rose by 10,000 to a seasonally adjusted 372,000, compared to expectations for a decline of 7,000 to 355,000.

Jobless claims for the preceding week were revised up to 362,000 from a previously reported 350,000. - 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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