Sponsored Links
The dollar enjoyed a rare day of strength on Thursday, as traders speculating that the recent rally in equities may be overdone expressed renewed interest in the safe haven buck.
Burgeoning risk appetite crippled the dollar against higher-yielding counterpart of late, but concerns about the global economic recovery could give the buck a lift until new data points provide more hope.
Traders considered another round of mixed data on the US jobs situation and housing market.
The buck rallied to 1.4855 versus the euro, a full two cents from October's 15-month low of 1.5062. Yesterday, the dollar tested its yearly low before finding support.
The dollar saw modest gains versus the yen, rising toward 91 after trading in a very narrow range over the past few sessions.
A month ago, the dollar tested its 1995 low of 87.08, but has managed to stabilize on speculation the Japanese policymakers would prevent the yen from rising any higher.
The dollar improved to 1.6510 versus the sterling, and C$1.0545 versus its Canadian counterpart.
First time claims for unemployment benefits fell by more than expected in the week ended November 7th, according to a report released by the Labor Department on Thursday, although claims remain just above the 500,000 level.
The report showed that initial jobless claims fell to 502,000 from the previous week's revised figure of 514,000. Economists had been expecting claims to edge down to 510,000 from the 512,000 originally reported for the previous week.
Despite a rise in the total number of mortgage applications and a continued decrease in interest rates for 30-year mortgages, home purchase applications fell to their lowest levels since December 2000 last week.
Loan applications spurred by the Obama administration's recent expansion and extension of home buyer tax credits were not reflected in the latest data.
0 komentar:
Post a Comment