Investing.com - The dollar remained close to two-year lows against the euro on Thursday amid expectations that the Federal Reserve will maintain its stimulus program for longer, but the euro eased off highs following some downbeat euro zone data.
During U.S. morning trade, the dollar was trading near 23-month lows against the euro, with EUR/USD up 0.15% to 1.3797, after rising as high as 1.3825 earlier.
The dollar remained under pressure after data earlier in the week showing that U.S. jobs growth slowed in September cemented expectations that the U.S. central bank would continue the current pace of its asset purchase program well into next year.
The euro eased back from session highs after data on euro zone manufacturing and service sector activity indicated that the recovery in the region remains sluggish.
The preliminary reading of the euro zone’s manufacturing purchasing managers’ index ticked up to 51.3 in October from a final reading of 51.1 in September, slightly below expectations for a reading of 51.4.
The euro zone services PMI fell to 50.9 this month from 52.2 in September.
Germany’s manufacturing PMI edged up to 51.5 from a final reading of 51.1 in September, but the services PMI declined to a three-month low of 52.3.
The dollar was almost unchanged near two-week lows against the yen, with USD/JPY edging up 0.02% to 97.40.
The dollar briefly touched session highs against the yen earlier after data showed that manufacturing activity in China expanded at the fastest rate in seven months in October.
The data helped offset fears over the Chinese economy, a day after market sentiment was hit by concerns that China’s central bank would tighten monetary policy to help control inflation.
The dollar was hovering close to 20-month lows against the traditional safe haven Swiss franc, with USD/CHF edging down 0.02% to 0.8922 and was almost unchanged against the pound, with GBP/USD inching up 0.04% to 1.6169.
The greenback was broadly higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD falling 0.32% to 0.9590, NZD/USD dropping 0.65% to 0.8337 and USD/CAD advancing 0.43% to 1.0429.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, dipped 0.06% to 79.29.
The dollar had little reactions after data released on Thursday showed that the number of people who filed for unemployment assistance in the U.S. fell less-than-expected last week.
The Department of Labor said the number of individuals filing for initial jobless benefits declined by 12,000 to a seasonally adjusted 350,000. Analysts had expected U.S. jobless claims to fall by 22,000 to 340,000 last week.
A separate report showed that the U.S. trade deficit widened 0.4% to a seasonally adjusted USD38.8 billion in August from a deficit of USD38.6 billion in July. Economists had forecast a deficit of USD39.5 billion.
During U.S. morning trade, the dollar was trading near 23-month lows against the euro, with EUR/USD up 0.15% to 1.3797, after rising as high as 1.3825 earlier.
The dollar remained under pressure after data earlier in the week showing that U.S. jobs growth slowed in September cemented expectations that the U.S. central bank would continue the current pace of its asset purchase program well into next year.
The euro eased back from session highs after data on euro zone manufacturing and service sector activity indicated that the recovery in the region remains sluggish.
The preliminary reading of the euro zone’s manufacturing purchasing managers’ index ticked up to 51.3 in October from a final reading of 51.1 in September, slightly below expectations for a reading of 51.4.
The euro zone services PMI fell to 50.9 this month from 52.2 in September.
Germany’s manufacturing PMI edged up to 51.5 from a final reading of 51.1 in September, but the services PMI declined to a three-month low of 52.3.
The dollar was almost unchanged near two-week lows against the yen, with USD/JPY edging up 0.02% to 97.40.
The dollar briefly touched session highs against the yen earlier after data showed that manufacturing activity in China expanded at the fastest rate in seven months in October.
The data helped offset fears over the Chinese economy, a day after market sentiment was hit by concerns that China’s central bank would tighten monetary policy to help control inflation.
The dollar was hovering close to 20-month lows against the traditional safe haven Swiss franc, with USD/CHF edging down 0.02% to 0.8922 and was almost unchanged against the pound, with GBP/USD inching up 0.04% to 1.6169.
The greenback was broadly higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD falling 0.32% to 0.9590, NZD/USD dropping 0.65% to 0.8337 and USD/CAD advancing 0.43% to 1.0429.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, dipped 0.06% to 79.29.
The dollar had little reactions after data released on Thursday showed that the number of people who filed for unemployment assistance in the U.S. fell less-than-expected last week.
The Department of Labor said the number of individuals filing for initial jobless benefits declined by 12,000 to a seasonally adjusted 350,000. Analysts had expected U.S. jobless claims to fall by 22,000 to 340,000 last week.
A separate report showed that the U.S. trade deficit widened 0.4% to a seasonally adjusted USD38.8 billion in August from a deficit of USD38.6 billion in July. Economists had forecast a deficit of USD39.5 billion.