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US dollar firms on resilient labor data, while oil and gold retreat
Initial jobless claims fell to 208K, below expectations of 217K, even as slower retail sales growth limited the dollar’s gains.
The U.S. dollar strengthened against major currencies, with the U.S. Dollar Index edging toward 100.80 and rising about 0.3%, after stronger-than-expected U.S. labor-market data supported the Greenback, FXStreet reports.
FXStreet said U.S. Initial Jobless Claims dropped to 208K, below consensus estimates of 217K and the prior reading of 216K, but the dollar’s advance was capped by softer retail sales, which grew 0.2% month over month in June versus 1.0% previously.
In FX markets, EUR/USD slid toward 1.1440 and GBP/USD fell toward 1.3470, while USD/JPY rose toward 162.40, the outlet noted, adding that possible Japanese intervention could restrain further yen weakness.
FXStreet also pointed to a drop in commodities, saying WTI crude slid toward $79.00 per barrel, down about 1.6%, and gold fell sharply toward $3,982, down almost 2%, as the dollar rebound weakened demand for the non-yielding metal.
Latest closeGold $4,067.10 ▲0.1%|WTI crude $80.18 ▲1.1%|EUR/USD 1.147 ▲0.8%