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The dollar hit another yearly low versus the euro and loonie in very early dealing Thursday morning, but managed to steady as traders looked ahead to key jobs and housing data.
The customary weekly jobless claims report for the week ended September 12th will be released by the Labor Department at 8.30 am ET. After having registered marginal decline in the past two weeks, economists expect a slight uptick in the jobless claims to about 555,000.
Also in traders' focus will be a report on housing starts and building permits for the month of August, slated for release at 8.30 am ET. Economists estimate housing starts of 580,000 for August.
Traders will be looking for further evidence that conditions in the world's largest economy have stabilized. Confidence about an economic recovery have bolstered higher-yielding currencies like the euro and loonie at the expense of the safe have dollar.
The dollar slipped to 1.4766 versus the euro, its lowest since last September, having dropped more than 2 cents this week.
Eurozone exports rose for the second month in July, as the economy shows signs of recovery, official data indicated Thursday.
The seasonally adjusted exports rose 4.1% month-on-month in July after rising 0.9% in June, the Eurostat said.
The dollar dropped to a nearly one-year low versus the loonie, falling through support to C$1.0604.
Canadian consumer inflation dropped in August from the previous year as prices at the pump fell, according to data released by Statistics Canada on Thursday. However, excluding volatile energy costs, consumer prices were higher on an annual basis.
Consumer prices fell 0.8% in the 12 months to August 2009, following a 0.9% decline in July.
The buck jumped against its Japanese counterpart after the Bank of Japan decided to leave the key interest rate unchanged and raised its economic assessment.
The BoJ decided by a unanimous vote to maintain the uncollateralized overnight call rate at 0.1%. The last change in the rate was a 0.1% cut in interest rates at the December 2008 meeting.
Versus the sterling, the dollar continued its run of choppy dealing near 1.6500. The pair is little changed over the past few months.
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