Forex – Dollar Jumps to Nearly 2-Week High Shrugging off Weak Economic Data – The dollar rose to a nearly two-week high against a basket of major currencies shrugging off softer economic data as diminishing trade-war fears supported sentiment.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.41% to 90.15.

The U.S. Department of Labor reported Thursday that rose 24,000 to a seasonally adjusted 242,000 for the week ended March 30, missing economists’ forecast for a rise to 225,000.

The trade deficit — which measures the gap between what the United States imports and what it exports — widened to in February from $56.70 billion the prior month. in the month were $204.45 billion, while came to $262.04 billion.

RBC said the rise in jobless claims “should not come as a shock” on the heels of a record low print last week. The bank added that the wider trade deficit, however, should “nudge street GDP estimates a touch lower”.

Also supporting sentiment on the dollar was a fall in investor fears over a U.S.-China trade war after Larry Kudlow, director of the White House National Economic Council, suggested the US was willing to strike a deal with Beijing.

“I think we are going to get a deal over a period of time – yes, I think these barriers will come down on both sides,” Kudlow told reporters on Thursday.

That helped the dollar extend gains against safe-haven yen as rose 0.59% to Y107.41.

, meanwhile, fell 0.33% to $1.2235 as Eurozone and undershot economists’ forecast.

“The EUR/USD has remained under its 50-day moving average of 1.2340 through the week,” Action Economics said. “The next support level seen at 1.2200, where option-backed bids are reported, then at 1.2153, which marks the March 1 low”.

fell 0.58% to $1.3998, pressured by a weaker than expected amid poorer weather in March.

added 0.05% to C$1.2778.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.