Dollar rises after upbeat economic data

Economies.com
2021-10-21 19:20PM UTC

The US dollar rose against most of its counterparts on Thursday, after the release of upbeat economic data, amid safe haven demand.

 

The US Department of Labor revealed that the number of initial unemployment claims fell to the lowest level since the beginning of the coronavirus pandemic at 290K last week from 298K, and lower than forecasts of 296K.

 

Many major companies reported their quarterly business results for the third quarter, led by Tesla and IBM's reports.

 

This comes amid renewed concerns over the coronavirus pandemic impact on global economies, after British Prime Minister Boris Johnson revealed today that Covid-19 infections are rising.

 

The dollar index rose against a basket of major currencies by 0.2% to 93.7 points as of 19:09 GMT, after hitting a high of 93.7 points and a low of 93.5 points.

Forex and Currency News

Forex News

Forex

Dollar hovers near six-week high ahead of consumer spending data, Powell's remarks
2024-03-29 11:28AM UTC
Dollar Strengthens Amid Declining Rate Cut Odds The dollar rose in European trade on Friday ...
EUR/USD news

Forex

Euro declines to five-week trough amid thin trading
2024-03-29 08:19AM UTC
Euro Decline Amid Holiday Thin Trading Euro declined in European trade on Friday against a basket ...
Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...

Forex Technical Analysis

Technical Analysis

Forex

The NZDCAD moves to the bearish track – Forecast today – 29-3-2024
2024-03-29 06:18AM UTC
NZDCAD Pair Forecast for Today - 29-3-2024 The NZDCAD pair surrendered to the negative ...
EUR JPY Analysis

Forex

The EURJPY declines below the support – Forecast today – 29-3-2024
2024-03-29 06:13AM UTC
EURJPY Pair Forecast for Today - 29-3-2024 The EURJPY pair surrendered to the negative ...
GBP JPY Analysis

Forex

The GBPJPY has to decline – Forecast today – 29-3-2024
2024-03-29 06:12AM UTC
GBPJPY Pair Forecast for Today - 29-3-2024 The GBPJPY pair still confined with many negative ...