Dollar regains ground after positive jobless claims report; Gold extends losses

Dollar regains ground after positive jobless claims report; Gold extends losses

4 June 2015, 16:01
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The dollar regained ground on Thursday after fresh data indicated that jobless claims in the U.S. were at the lowest level since 2000.

The U.S. Labor Department said on Thursday that the number of U.S. citizens filing new claims for unemployment benefits fell slightly more than expected last week, pointing to labor market resilience despite moderate economic growth.

Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 276,000 for the week ended May 30.

The report followed data released on Wednesday indicating that the U.S. private sector added 201,000 jobs last month, slightly ahead of expectations for 200,000 indicating that the recovery in the labor market is on track.

EUR/USD dipped 0.19% to 1.1253, after rising to two-and-a-half week highs of 1.1380 earlier.

German 10-year bund yields jumped to their highest level since September, boosting the single currency and narrowing the gap with their U.S. counterparts.

GBP/USD added 0.13% to 1.5359 after the Bank of England announced it left interest rates unchanged at 0.5%.

The dollar was 0.15% higher vs the yen, with USD/JPY at 124.45, while USD/CHF climbed 0.06% to trade at 0.9346.

Meanwhile, gold futures extended a modest decline.

Gold for August delivery on Comex fell $6.30, or 0.5%, to $1,178.60 an ounce, a day after closing at its lowest level in three weeks. July silver fell 16.5 cents, or 1%, to $16.315 an ounce, says MarketWatch.

July platinum dropped $4.40, or 0.4%, to $1,099.70 an ounce, while September palladium declined $3, or 0.4%, to $755 an ounce.

July copper dipped 1.7 cents, or 0.6%, to $2.7095 a pound.

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