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Dollar holds onto gains in quiet trade

Published 03/24/2016, 11:48 AM
Dollar remains broadly supported at 1-week highs
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Investing.com - The dollar held onto gains against the other major currencies in quiet trade on Thursday, after the release of relatively positive U.S. data and as hopes for a U.S. rate hike in April continued to support the greenback.

USD/JPY added 0.19% to 112.57.

The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending March 19 increased by 6,000 to 265,000 from the previous week’s total of 259,000. Analysts expected jobless claims to rise by 9,000 to 268,000 last week.

Separately, the Commerce Department said that total U.S. durable goods orders, which include transportation items, fell 2.8% last month, compared to economists' expectations for a decrease of 2.9%.

Core durable goods orders, which exclude volatile transportation items, fell 1.0% last month, more than forecasts for a 0.2% decline.

The greenback remained supported after several Federal Reserve members signaled the possibility for a U.S. rate hike in April.

EUR/USD slipped 0.12% to 1.1167.

Markets were still jittery after a series of terrorist attacks in Brussels on Tuesday killed 31 people and injured hundreds.

The dollar was lower against the pound, with GBP/USD up 0.16% at 1.4140 and was steady against the Swiss franc, with USD/CHF at 0.9759.

The U.K. Office for National Statistics earlier reported that retail sales decreased by 0.4% last month, compared to forecasts for a decline of 0.7%. Retail sales in January rose by 2.3%.

Year-on-year, retail sales rose by 3.8% in February, matching expectations, after rising at a rate of 5.4% a month earlier.

Core retail sales, which exclude automobile sales, dipped by 0.2% last month, better than forecasts for a decline of 1.0% and following a jump of 2.3% in January.

Meanwhile, the Australian and New Zealand dollars were weaker, with AUD/USD shedding 0.24% to 0.7515 and with NZD/USD edging down 0.15% to 0.6693.

USD/CAD gained 0.51% to 1.3273. The commodity-related loonie weakened as oil prices plummeted after data on Wednesday showed that U.S. oil supplies rose to a record high last week.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.15% at 96.20, the highest since March 16.

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