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Barchart
Barchart
Rich Asplund

Dollar Retreats as Easing European Tensions Boost the Euro

The dollar index (DXY00) on Thursday fell by -0.42%.  Thursday’s stock rally curbed liquidity demand for the dollar.  Also, Thursday’s euro strength weighed on the dollar after European tensions eased when President Trump canceled his threats to raise tariffs on goods from countries opposing his bid to acquire Greenland.  Thursday’s US economic news was supportive for the dollar after weekly jobless claims rose less than expected and Q3 GDP was revised higher. 

US weekly initial unemployment claims rose +1,000 to 200,000, showing a stronger labor market than expectations of 209,000.

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