The dollar got off to a positive start Thursday, but turned lower against its major rivals following the release of today’s inflation report for the month of September.
Consumer prices in the U.S. showed a slight uptick in the month of September, according to a report released by the Labor Department on Thursday. The Labor Department said its consumer price index inched up by 0.1 percent in September after rising by 0.2 percent in August. Economists had expected prices to increase by another 0.2 percent.
A report released by the Labor Department on Thursday unexpectedly showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended October 6th. The report said initial jobless claims rose to 214,000, an increase of 7,000 from the previous week’s unrevised level of 207,000. Economists had expected jobless claims to edge down to 206,000.
The dollar reached an early high of $1.1531 against the Euro Thursday, but has since dropped to a 1-week low of $1.1595.
France’s consumer price inflation eased in September, latest figures revealed on Thursday, confirming the initial estimates. The consumer price index rose 2.2 percent year-on-year following a 2.3 percent increase in August, the statistical office INSEE said.
The buck rose to an early high of $1.3182 against the pound sterling Thursday, but has since pulled back to a 2-week low of $1.3235.
The greenback climbed to a high of Y112.533 against the Japanese Yen Thursday, but has since eased back to a 3-week low of around Y111.925.
Producer prices in Japan were up 0.3 percent on month in September, the Bank of Japan said on Thursday, following the flat reading in August. On a yearly basis, producer prices were up 3.0 percent – unchanged from the previous two months.
Overall bank lending in Japan was up 2.3 percent on year in September, the Bank of Japan said on Thursday, coming in at 528.660 trillion yen. That exceeded expectations for an increase of 2.2 percent, which would have been unchanged from the previous month.
The material has been provided by InstaForex Company – www.instaforex.com