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Dollar slips lower vs. rivals after downbeat U.S. data

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Shutterstock photo - - The dollar slipped lower against against the other major currencies on Thursday, after data showed that manufacturing activity in the U.S. slowed again in September and that jobless claims rose more than expected last week.

The dollar was lower against the yen, with USD/JPY down 0.13% at 119.70.

The Institute for Supply Management said its index of purchasing managers fell to 50.2 last month from a reading of 51.1 in August. Analysts had expected a more modest decline to 50.6.

Earlier Thursday, the U.S. Department of Labor reported that the number of individuals filing for initial jobless benefits in the week ending September 26 increased by 10,000 to 277,000 from the previous week's total of 267,000, compared to expectations for a 3,000 rise.

Investors were turning their attention to Friday's U.S. jobs report for September, which could help to provide clarity on the likelihood of a near-term interest rate hike by the Federal Reserve.

The dollar also turned lower against the euro, with EUR/USD up 0.11% to 1.1161.

Research group Markit reported earlier that Germany's manufacturing PMI fell to 52.3 last month from 52.5 in August. France's manufacturing PMI ticked up to 50.6 in September from 50.4 the previous month.

Markit also said its manufacturing PMI for the entire euro zone came out at 52.0 in September, in line with expectations.

Elsewhere, the dollar was lower against the pound, with GBP/USD rising 0.22% to 1.5161, and was higher against the Swiss franc, with USD/CHF adding 0.16% to 0.9744.

Markit reported on Thursday that its U.K. manufacturing PMI eased to 51.5 in September from a revised reading of 51.6 in August. Economists had expected the index to tick up to 51.3.

In Switzerland, data earlier showed that retail sales fell 0.3% in August on a yearly basis, compared to expectations for a 0.3% rise and after a revised 0.1% gain in July.

The Australian and New Zealand dollars were stronger, with AUD/USD up 0.53% to 0.7058 and with NZD/USD gaining 0.20% to 0.6411.

Meanwhile, USD/CAD retreated 0.67% to trade at one-week lows of 1.3232.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was down 0.22% at 96.20. offers an extensive set of professional tools for the financial markets.

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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.

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