Dollar mixed after jobs, trade data

By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- The dollar slipped against the euro and the pound Thursday but rose against the yen as investors digested mixed U.S. economic news.

What prices are doing: The dollar edged 0.2% lower on the euro to $1.3678 and fell 0.6% versus the pound to $1.5036. The buck was flat against the yen at ¥90.52.

dollar.mkw.gif
Click chart to view current rates.

The dollar was higher against the yen and the pound Wednesday, and lower on the euro.

What's moving the market: Investors weighed mixed U.S. economic data on jobless claims and the trade balance.

The Commerce Department said the trade deficit narrowed to $37.3 billion in January from $39.9 billion a month earlier. Economists expect the trade deficit to increase to $41 billion from $40.2 billion in December.

But the report also showed that exports fell for the first time in almost a year and imports slipped 1.7%, the largest decline in 11 months.

The Labor Department's report on claims for unemployment insurance showed that while initial claims fell by a modest 6,000 to 462,000, continuing claims jumped by 37,000, highlighting the labor market's long-term unemployment challenges.

Economists surveyed by Briefing.com expect initial claims to fall to 460,000, with continuing claims remaining unchanged at 4.5 million.

What analysts are saying: While the smaller trade deficit should boost the dollar, fewer imports and exports weighed on the greenback.

Forex.com chief currency strategist Brian Dolan said investors will keep currency trading in a tight range ahead of U.S. retail sales data due Friday.

He added that concerns over Greece's debt situation will curb gains in the euro and the pound.  To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.53%4.33%
15 yr fixed3.90%3.77%
5/1 ARM4.35%4.18%
30 yr refi4.52%4.30%
15 yr refi3.88%3.74%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 24,083.83 59.70 0.25%
Nasdaq 7,003.74 -3.61 -0.05%
S&P 500 2,639.40 4.84 0.18%
Treasuries 3.02 0.04 1.37%
Data as of 8:46pm ET
Company Price Change % Change
General Electric Co 14.05 -0.63 -4.29%
Advanced Micro Devic... 9.71 -0.38 -3.77%
Bank of America Corp... 30.14 -0.05 -0.17%
Micron Technology In... 47.60 0.49 1.04%
Facebook Inc 159.69 0.00 0.00%
Data as of 4:15pm ET

Sections

When Snapchat changed its app a few months ago, users ? including Kylie Jenner ? revolted. Snap is making changes again, and they have Wall Street nervous. More

US regulators are close to slapping Wells Fargo with a $1 billion fine for forcing customers into car insurance and charging mortgage borrowers unfair fees. More

Nissan's redesigned electric car isn't as exciting as some competitors but it's practical and affordable. More