Dollar index slides lower but remains supported, U.S. data ahead

Investing.com –

Investing.com – The dollar slid lower against the other major currencies on Thursday, although demand for the safe-haven greenback remained supported by sustained concerns over Greece’s debt crisis, while markets eyed upcoming U.S. data.

EUR/USD held steady at 1.1338 after talks between Greece and European Union officials ended without an agreement on Wednesday, though both sides said there was still hope for a deal. Further talks are due to be held next Monday.

Greece’s current bailout is due to expire on February 28 and the new Greek government does not want it extended, fuelling fears over a conflict with its creditors which could trigger the country’s exit from the euro zone.

Athens has proposed new economic reforms to replace 30% of its massive bailout deal, replacing them with a 10 point plan of economic reforms.

However, Greece’s creditors in the EU are insisting that the country must stick to the terms of the original bailout agreement.

The pound edged higher against the dollar, with GBP/USD up 0.15% to 1.5256, while USD/CHF added 0.15% to 0.9302.

Elsewhere, USD/JPY declined 0.67% to trade at 119.62.

The Australian and New Zealand dollars were mixed, with AUD/USD retreating 0.41% to 0.7685 and NZD/USD was steady at 0.7365.

The Aussie came under pressure after the Australian Bureau of Statistics said the number of employed people dropped by 12,200 in January, compared to expectations for a 5,000 fall. December’s figure was revised to an increase of 42,400 from a previously estimated 37,400 gain.

The report also showed that Australia’s unemployment rate rose to 6.4% last month from 6.1% in December, compared to expectations for an uptick to 6.2%.

Separately, the Melbourne Institute said its inflation expectations for the next 12 months rose to 4.0% in January from 3.2% the previous month.

Meanwhile, the Canadian dollar regained some ground, with USD/CAD down 0.61% to 1.2554.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.34% to 94.84.

Later in the day, the U.S. was to release reports on retail sales and initial jobless claims.

Investing.com
Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new

Dollar Index

dollarindex.org@privydomain.com

You may also like...

Discussion on Dollar index slides lower but remains supported, U.S. data ahead