U.S. Dollar Gives Back Ground But Remains Modestly Higher

RTTNews | 153 days ago
U.S. Dollar Gives Back Ground But Remains Modestly Higher

(RTTNews) - After seeing some strength early in the day, the value of the U.S. dollar has given back ground over the course of trading on Thursday.

The U.S. dollar index has pulled back well off its highs and is currently up just 0.12 points or 0.1 percent at 107.70 after rising as much as 0.5 percent.

The greenback is trading at 151.47 yen versus the 152.61 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.0387 compared to yesterday's $1.0403.

While the dollar initially regained ground following the pullback seen over the past two days, buying interest has waned since then as traders look ahead to the release of the Labor Department's closely watched monthly jobs report on Friday.

The report, which is expected to show employment climbed by 170,000 jobs in January after jumping by 256,000 jobs in December, could impact the outlook for interest rates.

A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended February 1st.

The report said initial jobless claims climbed to 219,000, an increase of 11,000 from the previous week's revised level of 208,000.

Economists had expected initial jobless claims to rise to 213,000 from the 207,000 originally reported for the previous week.

A separate report released by the Labor Department showed U.S. labor productivity and unit labor costs both increased by less than expected in the fourth quarter of 2024.

read more
U.S. House Purchase Mortgage Applications Highest In Over 2 Years: MBA

U.S. House Purchase Mortgage Applications Highest In Over 2 Years: MBA

Home loan applications in the U.S. rose to their highest level since early 2023 in the week ended July 04, while mortgage rates eased only modestly, survey data from the Mortgage Bankers Association showed on Wednesday. The number of mortgage applications grew 9.4 percent from the previous week when it they rose 2.7 percent, the MBA said.
RTTNews | 4h 26min ago
Fed Minutes Reveal Mixed Views About Outlook For Interest Rates

Fed Minutes Reveal Mixed Views About Outlook For Interest Rates

The Federal Reserve on Wednesday released the minutes of its June monetary policy meeting, which revealed most participants generally agree the central bank is well positioned to wait for more clarity on the outlook for inflation and the economy before adjusting interest rates.
RTTNews | 6h 0min ago
U.S. Wholesale Inventories Dip In Line With Estimates In May

U.S. Wholesale Inventories Dip In Line With Estimates In May

A report released by the Commerce Department on Wednesday showed a modest decrease by wholesale inventories in the U.S. in the month of May. The Commerce Department said wholesale inventories fell by 0.3 percent in May after inching up by 0.1 percent in April. The pullback by inventories matched economist expectations as well as the flash estimate.
RTTNews | 10h 6min ago
U.S. Factory Orders Spike In Line With Estimates In May

U.S. Factory Orders Spike In Line With Estimates In May

New orders for U.S. manufactured goods saw a substantial rebound in the month of May, according to a report released by the Commerce Department on Thursday. The Commerce Department factory orders spiked by 8.2 percent in May after plunging by a revised 3.9 percent in April. The sharp increase matched economist estimates.
RTTNews | 6 days ago
U.S. Service Sector Returns To Growth In June

U.S. Service Sector Returns To Growth In June

After reporting a slight contraction in U.S. service sector activity in the previous month, the Institute for Supply Management released a report on Thursday showing the service sector returned to growth in the month of June. The ISM said its services PMI rose to 50.8 in June from 49.9 in May, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.
RTTNews | 6 days ago