Dollar hits week low ahead of jobless claims and producer prices data

2021-10-14 12:23:34 GMT (Economies.com)
Dollar hits week low ahead of jobless claims and producer prices data

The US dollar fell against its peers on Thursday, deepening its losses for the second straight day and gave up its 13-month peak on profit-taking, in addition to a drop in the US T-bond yields, and ahead of key US data on the weekly jobless claims and producer prices.

 

The dollar index fell 0.3% to the lowest since October 4 at 93.75 points, after opening at 94.02 points, and hit a high at 94.08 points.

 

The index lost 0.5% yesterday, the first daily loss, after hitting its 13-month high of 94.56 points.

 

The dollar index was hurt as well by the recent decline in 10-year US treasury yields following latest Fed's minutes.

 

The minutes showed the Fed might start cutting down its bonds purchases program by November, but members remained divided on the size of the threat that inflation represents to the economy.

 

At 12:30 GMT, the unemployment claims for the week ending October 8 are expected down to 315K from 326K in the previous week.

 

At the same time, the US Producer Price Index is expected up by 7.1% y/y in September from 6.7% in August, and to rise by 0.6% m/m from 0.7%.

 
 
 
  Symbol Last Change Chg.%
1.1629
0.0018
0.1533%
1.3752
0.0013
0.0928%
Tadawul
11872.06
26.13
0.22%
24.383
1.069
4.588%
84.365
1.019
1.223%
86.29
0.75
0.88%
1798.845
29.105
1.645%
 
 
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