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Barchart
Barchart
Rich Asplund

Liquidity Demand Boosts Dollar as Stocks Decline

ECB LAGARDE Deficit Mar United States

The dollar index (DXY00) on Thursday rose by +0.06%.  The dollar Thursday recovered from a 1-week low and posted modest gains.  Weakness in stocks Thursday sparked liquidity demand for the dollar.  The dollar Thursday initially fell after U.S economic news showed a wider-than-expected U.S Mar trade deficit and after Q1 nonfarm productivity fell more than expected. 

Thursday’s U.S. economic news was bearish for the dollar.  Weekly initial unemployment claims rose +13,000 to 242,000, showing a weaker labor market than expectations of 240,000.  Also, Q1 nonfarm productivity fell -2.7%, weaker than expectations of -2.0%.  In addition, the Mar trade deficit was -$64.2 billion, wider than expectations of -$63.1 billion.

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