The dollar is down slightly against the Euro Thursday afternoon, but is little changed in comparison to the Japanese Yen and the British pound. Investors appear hesitant to take positions ahead of the release of the highly anticipated U.S. employment report for March tomorrow morning.
The Labor Department released a report on Thursday showing that initial jobless claims rose by more than expected in the week ended March 26th.
The Labor Department said initial jobless claims climbed to 276,000, an increase of 11,000 from the previous week’s unrevised level of 265,000. Economists had expected jobless claims to inch up to 266,000.
After reporting an unexpected contraction in Chicago-area business activity last month, MNI Indicators released a report on Thursday showing a bigger than expected rebound by its Chicago business barometer in the month of March.
MNI Indicators said its Chicago business barometer jumped to 53.6 in March from 47.6 in February, with a reading above 50 indicating growth. Economists had expected the index to rise to 50.3.
The dollar dropped to over a 4-month low of $1.1411 against the Euro Thursday, but has since rebounded to around $1.1385.
Eurozone consumer prices decreased for the second straight month in March on falling energy prices, while core inflation accelerated, offering some relief to the European Central Bank in its attempts to revive inflationary pressures in the 19-nation economy.
Consumer prices fell 0.1 percent in March from a year ago following a 0.2 percent drop in February, flash data from Eurostat showed Thursday. The annual decline matched economists’ expectations.
German retail sales declined unexpectedly in February, provisional results from Destatis revealed Thursday. Retail sales slid 0.4 percent month-on-month in February, confounding expectations for a 0.4 percent rise. Sales had fallen 0.1 percent in January.
German unemployment rate held steady in March, the Federal Labor Agency reportedly said Thursday. The unemployment rate came in at 6.2 percent in March, the same as in February, and in line with expectations. This was the lowest since German reunification.
Germany’s unemployment rate held steady in February, preliminary figures from Destatis showed Thursday. The jobless rate came in at an adjusted 4.3 percent in February, the same rate as in the previous month. In the corresponding month last year, the unemployment rate was 4.8 percent.
French consumer spending grew more than expected in February, figures from the statistical office Insee revealed Thursday. Household consumption expenditure grew 0.6 percent month-on-month, bigger than an expected 0.2 percent rise. Nonetheless, it was slower than January’s 1 percent increase.
France’s consumer prices decreased in March at the same pace seen in the previous month, largely due to the slump in energy prices, marking the second straight month of decline, preliminary data from the statistical office INSEE showed Thursday.
The flash consumer price index dropped 0.2 percent year-on-year, same as in February, when prices fell for the first time in eleven months. Economists were looking for a 0.1 percent drop.
The buck slipped to a low of $1.4424 against the pound sterling Thursday morning, but has since bounced back to around $1.4375.
The U.K. economy expanded more than previously estimated in the fourth quarter, a detailed report from the Office for National Statistics showed Thursday.
Gross domestic product climbed 0.6 percent in the fourth quarter from prior three months, which was revised up from 0.5 percent estimated on February 25. This was the 12th consecutive quarter of positive growth since early 2013.
Consumer confidence in the United Kingdom was largely unchanged in March, the latest survey from GfK revealed on Thursday with an index score of 0. That was unchanged from the February reading, and it beat forecasts for a score of -1.
UK home loan approvals eased slightly in February after a strong climb at the start of the year, figures from the Bank of England showed Thursday. The number of loan approvals for house purchase dropped to 73,871 from 74,085 in January. Economists had expected 73,500 approvals.
The greenback dipped to a low of Y112.103 against the Japanese Yen Thursday, but has since risen back to around Y112.525.
Japan housing starts grew unexpectedly in February, while construction orders declined for the second straight month, data from the Ministry of Land, Infrastructure, Transport and Tourism revealed Thursday.
Housing starts grew 7.8 percent year-on-year in February, confounding expectations for a 2.8 percent drop and faster than January’s 0.2 percent rise. This was the fastest growth since August 2015, when it climbed 8.8 percent.
The material has been provided by InstaForex Company – www.instaforex.com