Friday 19 February 2016

The dollar rose against the other currencies, helped by positive economic data

The US dollar rose against other major currencies on Thursday, helped by upbeat US economic data.
United States Department of Labor said the number of people applying for benefits last week dropped by 7,000 to 262,000 of 269,000 for the previous week. Analysts had expected an increase of 6,000 to 275,000.
In addition, the index of production also rose to -2.8 from -3.5 in January.
Market sentiment worsened after the Organization for Economic Cooperation and Development cut its forecast for global growth for 2016 and warned that some emerging markets are at risk of fluctuation of exchange rates.
OECD expects world gross domestic product to grow by 3.0 percent this year, down from forecasting growth of 3.3 percent made in November.
The euro fell, closing at 1.1105.
Elsewhere, the dollar fell against the British pound, as the pair GBP/USD finished at 1.4335.
USD/JPY also dropped to 113.23.
Meanwhile, the Australian dollar remained weaker against the green money ended down at 0.7156, while NZD/USD managed to climb to 0.6643.
USD/CAD closed the session at 1.3725, after oil futures were back above 31 dollars per barrel.
The dollar index US ended the day at 96.75.


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