EUR/USD snapped the five-day positive streak but remained at a tight range despite the speculations that ECB will cut its QE program, at least at half. The U.S. dollar refuses to halt its fall, even though the jobless claims reached a 44-year low; USD/JPY below 112.00 psychological level. Sterling is rising as E.U. may offer the U.K. a deal to make its transition out of the union smoother.
Greenback Unchanged Despite the 44-Year Low Jobless Claims
The U.S. dollar has been traded around its opening levels against the majors on Thursday as the U.S. PPI and the weekly jobless claims have not been to give a direction to the currency. The U.S. PPI rose by 2.6% year-over-year, above market expectations of 2.5% and 2.4% before. The continuing jobless claims for the week ends on September 19th, decreased to 1.889M from downgraded 1.921M before, hitting a 44-year low, while the initial jobless claims came in 243K below market consensus of 251K. Despite the positive data, the weekly performance of the greenback remains negative, following the second thoughts of some of the FOMC policymakers for a rate hike in December, due to the persistently low inflation rate. However, they sent the message that the FOMC overall supports the plan to raise rates this year. Traders will eye U.S. CPI today, hoping that it will stimulate the buck.
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