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Most Recent Article: US Dollar reverses its course despite negative Jobless Claims The US Dollar gapped opened on Thursday after a big miss on the Richmond Manufacturing Index. Equity markets are steady while US bond markets are seeing substantial buying. The US Dollar Index has a wild ride and is near flat after the US Opening Bell.  The US Dollar (USD) took another nosedive in Asian trading on Thursday. The opening gap against the close from Wednesday was not a positive sign for the Greenback in the US Dollar Index (DXY). Though just minutes after the US opening bell, the DXY has completely reversed earlier losses and is flat for this Thursday, flirting with a pop back above 101. On the economic front, the Jobless Claims data added to some support for the much battered Greenback. Although there was a jump in both Initial and Continuing Claims, the previous numbers were revised down. That means that the starting point for this week’s increase in Jobless Claims is starting at tighter, lower point against where it is at the moment.   Daily digest Market Movers: Home Sales did nothing Near 13:30 GMT the Jobless Claims have come out: Initial Jobless Claims went from 206,000 to 218,000, while that 206,000 got revised from 205,000. Continuing Claims went from 1,861,000 to 1,875,000, though the previous number was at 1,865,000. So a downward revision from the previous number and the new print in line with expectations.  At the same time, Wholesale Inventories came out and went from -0.4% to -0.2% as expected.  The Goods Trade Balance for November wetn from -89.8 billion USD to -90.3 billion USD.  At 15:00, Pending Home Sales did not move the market despite heading to 0% on the monthly change, against -1.2% on the previous month.  The US Treasury is heading…

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Filed under: News - @ December 28, 2023 11:08 pm