Despite the Dollar reaching a six-week high against the Yen on Wednesday, the greenback slid among the more volatile currencies, as risk appetite appeared to be returning to investors. After Australia's retail sales climbed in recent months, and rumors spread that the Australian interest rates would soon be raised, the AUD rose to 92.93 U.S. cents against the Dollar. The kiwi also gained against the ailing USD, trading at 72.58 U.S. cents. With the USD only making slight gains against the Euro on Wednesday, traders may want to pay attention to events on Thursday to see which way the Dollar moves.
There are a number of news events today that could impact the USD in trading. Set to be released at 13:30 GMT, this week's unemployment claims could prove beneficial for the Dollar if the forecasted number of 479K is true. This would represent an increase over the figure from last week, and could cause investors to rally around the safe haven Dollar. Traders may also want to pay attention to the ISM Non-Manufacturing PMI, set to be released at 15:00 GMT. The report is a survey of several hundred purchasing managers, and is a good indicator of how businesses are performing in the U.S. If the report comes in as predicted at around 51.6, the Dollar could suffer, as this figure would mean that American businesses are performing well.
This may lead to increased risk taking among investors.