Dollar lower despite strong economic reports

Dollar lower despite strong economic reports

17 September 2015, 15:44
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On Thursday the greenback remained lower against its peers, shrugging off data that showed that U.S. jobless claims fell more than expected last week. 

EUR/USD was last at 1.1323, higher 0.28%.

GBP/USD rose 0.28% to 1.5537.

New applications for U.S. unemployment benefits fell by 11,000 to 264,000 in the seven days ended Sept. 12. The latest report on initial claims shows the domestic economy remains resilient in face of a weaker global outlook. Analysts had expected jobless claims to remain unchanged last week.

This is the lowest level of claims since mid-July. That reading of 255,000 in the week ended July 18 was the lowest level of claims since September 1974.

Meanwhile, the average of new claims over the past month, edged down by 3,250 to a seasonally adjusted 275,000, the Labor Department said earlier today.

The four-week average smooths out sharp fluctuations in the more volatile weekly report and is seen as a more accurate predictor of labor-market trends. Continuing jobless claims declined by 26,000 to 2.24 million in the week ended Sept. 5. These claims reflect people already receiving unemployment checks.

A separate report showed that U.S. building permits increased by 3.5% to 1.170 million units last month, exceeding expectations for a 0.4% gain.

U.S. housing starts dropped 3.0% to 1.126 million units in August, compared to expectations for a 5.1% drop.

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