Investing.com – The U.S. dollar slipped on Friday in Asia as markets await the key first-quarter GDP data due later in the day.
The that tracks the greenback against a basket of other currencies was down 0.1% at 97.873 by 11:40 PM ET (03:40 GMT).
Overnight, the U.S. Department of Labor reported that initial jobless claims rose by 37,000 to a seasonally adjusted 230,000 for the week ended April 21, missing economists’ forecast for a rise to 199,000.
The Commerce Department said on Wednesday core durable goods orders rose 0.4% last month, beating economists’ forecasts for a 0.2% rise.
Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rose 1.3% last month, well above expectations for a 0.1% increase.
Meanwhile, the pair slipped 0.1% to 6.7346.
Chinese President Xi Jinping’s speech at the Belt and Road Forum on Friday is in focus as he spoke about the country’s current exchange rate level.
China will ensure the yuan remains within “reasonable range” but would not pursue yuan depreciation that harm others, said Xi.
The pair was unchanged at 111.61.
The Bank of Japan said on Thursday that it would keep interest rates extremely low until at least 2020. The key monetary stimulus settings were also left unchanged.
The central bank noted that it mostly likely will not hit its 2% inflation target in the next three years.
The pair edged up 0.1% to 1.1134 as the currency recovered from earlier lows after disappointing business surveys from Germany and France.
The pair and the NZD/UDS pair rose 0.1% and 0.2% respectively.
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.
Latest posts by investing.com (see all)
- Forex – Weekly Outlook: May 27 – 31 - May 26, 2019
- Trump’s ‘Easy’ Trade War Hits Snags as China Plays the Long Game - May 25, 2019
- ECB Policy Maker Sees Economic Upturn Intact Before June Meeting - May 25, 2019