He dollar fell slightly on Thursday, dragged down by the fall in the yield of the United States Treasury bondsalthough it remained near an eight-week high and pressured by weak data from the world’s largest economy, which supports expectations that the Federal Reserve start cutting interest rates this year. In Uruguay, Meanwhile, the currency fell in a week with ups and downs.
He dollar index —which measures the performance of the greenback in relation to a basket of six internationally relevant currencies— fell 0.11%, to 105.93 units, not far from the almost two-month high reached on Wednesday, at 106.13 units .
Lower performance in the treasuries The slightly negative performance was boosted. It remains to be seen how the drop in job applications will affect the price. unemployment benefit and its possible impact on the labor market.
He and in recovered from its lowest level in the last 38 years against the dollar after the US figures, although traders remained alert for any signs of Japanese intervention to shore up the currency.
US economic data
Applications for state subsidies unemployment fell by 6,000 to 233,000 in the week ended June 22. However, the number of people receiving benefits after an initial week of aid rose by 18,000 to 1.839 million in the week ended June 15.
For their part, new orders for capital goods manufactured in USA fell unexpectedly in May, suggesting business spending on equipment weakened in the second quarter.
Other data showed that the economic growth moderated sharply in the first quarter. Gross domestic product increased at a slightly upwardly revised annualized rate of 1.4% last quarter, but less than the 3.4% rate in the final three months of 2023.
The report on the GDP It also showed weak consumer spending, at 1.5%, revised down from the previous estimate of 2%.
“It seems that the markets are focusing more on personal consumption than anything else, which would definitely be a sign of a slowdown in the US economy,” he said. Helen Given, Monex USA currency trader in Washington.
Source: Ambito
