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Forex - Dollar mixed vs. rivals as commodity prices steady

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Forex Pros - The U.S. dollar was mixed against its major counterparts on Thursday, as commodity prices steadied, while economic data painted an uncertain picture of the global economy.

During European morning trade, the greenback was slightly higher against the euro, with EUR/USD dipping 0.07% to hit 1.4238.

But the greenback slipped against the pound, with GBP/USD easing up 0.06% to hit 1.6178.

Earlier in the day, official data showed that U.K. retail sales rose more-than-expected in April.

The greenback was up against the yen and the Swiss franc with USD/JPY rising 0.26% to hit 81.88 and USD/CHF easing up 0.11% to hit 0.8818.

Official data showed earlier that Japan's economy contracted by an annualized 3.7% in the first quarter, due to the effects of the March 11 earthquake and tsunami, more than the annualized 2.0% drop expected.

Elsewhere, the greenback was lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.22% to hit 0.9676, AUD/USD rising 0.13% to hit 1.0642 and NZD/USD gaining 0.21% to hit 0.7906.

Earlier Thursday, announcing its annual budget, New Zealand's government said it would return its budget to surplus in four years by cutting public spending.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, dipped 0.02%.

Later in the day, the U.S. was to publish its weekly report on initial jobless claims as well as industry data on existing home sales and official data on manufacturing activity in Philadelphia.

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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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