The dollar index (DXY00) today is down by -0.26%. The announcement of a ceasefire between Israel and Lebanon knocked WTI crude oil prices down more than -3% today and lowered inflation expectations, which might persuade the Fed to ease monetary policy, a negative factor for the dollar. Also, today's US economic news, showing a bigger-than-expected increase in weekly jobless claims and a larger-than-expected downward revision to Q1 nonfarm productivity, is bearish for the dollar.
US weekly initial unemployment claims rose +13,000 to a 3.75-month high of 225,000, showing a weaker labor market than expectations of 215,000.
