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Barchart
Barchart
Rich Asplund

Dollar Slightly Higher as Bond Yields Climb

United States Unemployment Gold

The dollar index (DXY00) on Thursday rose by +0.02%.  The dollar Thursday posted modest gains. Higher T-note yields Thursday underpinned the dollar.  T-note yields rose Thursday after weekly U.S. initial unemployment claims unexpectedly fell, and the Q1 core PCE deflator rose more than expected.  Strength in stocks Thursday curbed liquidity demand for the dollar.  The dollar Thursday dipped briefly after Q1 U.S. GDP grew slower than expected.

U.S. weekly initial unemployment claims unexpectedly fell -16,00 to 230,000, showing a stronger labor market than expectations of an increase to 248,000.  Likewise, weekly continuing claims unexpectedly fell -3,000 to 1.858 million, showing a stronger labor market than expectations of an increase to 1.870 million.

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