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- Asian session review: the dollar decline against most currencies
Asian session review: the dollar decline against most currencies
During today's Asian trading, the US dollar fell against most major currencies. Traders continue to evaluate the statistical data on the US economy published the day before, and are also waiting for reports on retail sales and consumer confidence for April, which should help them form an opinion on the prospects for consumer spending.
According to data from the US Department of Labor, released on Thursday, the number of Americans applying for unemployment benefits for the first time last week decreased by 34 thousand - to 473 thousand people, the lowest since the beginning of the COVID-19 pandemic.
Traders are trying to combine conflicting signals - the weak April labor market report released last week, and data on the growth of inflation last month.
Christopher Waller, a member of the Board of Governors of the Federal Reserve System (Fed), said yesterday that the Fed needs to evaluate the statistical data on the labor market and inflation for several more months before deciding when to start reducing stimulus.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.21%.
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