US Dollar Index — News Archive


USD/CAD Breaks Below 1.25 Amid Initial Jobless Claims Sliding to Three-Month Low

The US dollar weakened on greater confidence in the broader financial markets as the government reported initial jobless claims falling to their lowest levels in three months. A renewed rally in the equities arena, surging Treasurys, and positive economic data weighed on the conventional safe-haven asset. With the latest drop, the greenback has officially turned negative for the year.

Pound Rallies on Upbeat UK Jobless Claims Data, Later Heads Lower

The Sterling pound rallied to new 34-month highs against the dollar boosted by the British government’s 4-step reopening plan, which could boost the UK’s economic recovery. The GBP/USD currency pair was also boosted by the drop in the UK unemployment numbers recorded in January. The number of jobless claims fell, indicating that the economy was doing good.

Euro Rallies Against Dollar on Upbeat German PPI, and Eurozone PMIs

Today, the euro rallied higher against the much weaker dollar, extending yesterday’s gains buoyed by the positive euro area PMI reports released by Markit Economics. The EUR/USD currency pair rallied higher as investor sentiment towards the single currency turned bullish, boosted by the region’s improved COVID-19 vaccine rollout.

US Dollar Index Slides As Jobless Claims Surge to 861k

The US dollar weakened on Thursday, joining the decline in the broader financial markets. The greenback is slumping after the US government reported a larger-than-expected reading for initial jobless claims. While the dollar has rebounded over the last week, the greenback has ostensibly hit the pause button on its meteoric ascent to kick off 2021.

Euro Plunges Against Buoyant Dollar on Upbeat US Retail Sales and PPI Data

The euro fell against the resurgent dollar buoyed by rising US Treasury yields and upbeat US retail sales figures amid a mostly empty European docket. The EUR/USD currency pair was under intense selling pressure for the second consecutive day after hitting 3-week highs largely driven by the dollar.

USD/CAD Rises on Strong Retail Sales, Industrial Output in January

The US dollar rose against some of its major currency peers in the middle of the trading week as financial markets failed to react positively to strong retail sales data. The greenback has strengthened during the holiday-shortened trading week amid investors continuing to seek safe-haven assets during the broader economic uncertainty.

Canadian Dollar Falls Against US Dollar on Weak Oil Prices, COVID-19 Fears

Today, the Canadian dollar fell against its US competitor driven by the falling crude oil prices and the rising US Treasury yields that boosted the greenback. The USD/CAD currency pair recouped most of yesterday’s losses as buyers stepped in defending the crucial 1.2600 level and pushing the pair higher.

Pound Falls Against Dollar Despite Upbeat UK GDP Data, Rallies Briefly

Today, the Sterling pound fell against the dollar despite the release of upbeat UK macro data as investor sentiment towards the pound remained bearish. The dollar’s recovery also fueled the GBP/USD currency pair’s decline as investors remained cautious about the UK-EU Northern Ireland border standoff.

DXY Extends Weakness As Initial Jobless Claims Near 800k

The US dollar added to its weekly decline on Thursday after initial jobless claims came in higher than market forecasts. With nearly 800,000 people applying for unemployment benefits, the American labor market is failing to recovery, despite coronavirus vaccines rolling out, states reopening their economies, and new infections coming down. Is the mini-bull run over for the greenback?

Euro Rallies Against Dollar on German Inflation and Lagarde Speech

The euro rallied against the dollar fueled by the risk-on investor sentiment that forced the greenback to fall for the past four sessions as riskier assets soared. The EUR/USD currency pair’s rally was also driven by ECB Governor Christine Lagarde’s upbeat speech earlier today, which boosted the single currency.