The Dollar Continues To Weak Down In The Middle Of The US Labor Data Release

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Stocks and Forex

The Dollar Continues To Weak Down In The Middle Of The US Labor Data Release

ant Friday February 16, 2018 07:30 WIB



Illustration (Photo: Reuters)

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NEW YORK - The dollar continued to weaken against other major currencies at the end of trading Thursday, as investors mulled a number of economic reports.

The US Labor Department said on Thursday that the producer price index for final demand rose 0.4 percent last month, having not changed in December, in line with market expectations.In a separate report, the department announced that in the week ending February 10, preliminary figures for seasonally adjusted unemployment claims reached 230,000, an increase of 7,000 from the previous week's revised level, and generally equivalent to market forecasts.

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The 4-week moving average was 228,500, an increase of 3,500 from the previous week's revised average.

Meanwhile, US industrial production edged down 0.1 percent in January following a fourth straight monthly gain, failing to meet market expectations, the Federal Reserve said.

"Production rose in the second half of last year and slowed in January, when retail sales in January retreated, if continued, disrupted but the pace of activity was impressive," said Chris Low, chief economist at FTN Financial, in a note.

The US dollar index, which measures the greenback against six major currencies, fell 0.59 percent to 88.591 in late trading.

In late New York trade, the euro rose to 1.2507 dollars from 1.2444 dollars in the previous session, and the British pound rose to 1.4098 dollars from 1.3995 dollars in the previous session. The Australian dollar rose to 0.7938 dollars from 0.7918 dollars.

The US dollar bought 106.26 Japanese yen, down from 107.04 yen in the previous session. The US dollar dipped to 0.9226 Swiss francs from 0.9303 Swiss francs, and dropped to 1.2484 Canadian dollars from 1.2517 Canadian dollars.

(rzy)