The U.S. Department of Labor reported that Initial claims for unemployment benefits increased by 45,000 in the week ended March 13, to 770,000. The expectation was for a reduction to 700,000. It was the highest reading in four weeks.
Regarding the Continued orders, there was a drop of 18,000 in the week ended March 6 to 4,124,000. The market consensus was for a more significant decline to 4.07 million. It is the lowest level in a year.
The Conference Board’s consumer confidence report will also be released on Thursday. Another event to watch out for will be a presentation by Jerome Powell, the chairman of the Federal Reserve, at a BIS conference.
The data had no impact on the dollar. Except for a slight drop in USD / JPY, the greenback remained in the high zone against most G10 currencies.
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