RTTNews - The dollar was mixed versus other majors Thursday morning in New York as traders looked ahead to weekly jobless claim data, looking for evidence that the jobs situation has finally stabilized.
Economists expect initial claims to come in at 565,000 after the previous week's report showed claims at 576,000. The report is scheduled for release at 8:30 a.m. ET.
At the same time, the Commerce Department will release its preliminary second quarter GDP report, with economists expecting the revised reading to show that the U.S. economy contracted at a 1.4 percent rate for the quarter.
Currency trading has recently been driven by equities markets, and with the summer rally petering out and many traders in the Hamptons or St. Tropez, currencies are likely to meander in a quiet range through Labor Day.
The dollar gave back a small portion of yesterday's gains versus the euro Thursday morning, easing to 1.4260. On a longer term basis, the dollar is little changed over the last month, having steadied since hitting a 2009 low of 1.4446.
German consumer sentiment continued its upward movement to reach a 15-month high as disappearing inflation raised income expectations, supporting the propensity to buy.
The forward-looking consumer sentiment index rose to 3.7 for September from a revised 3.4 points in August.
The dollar consolidated its recent gains versus the sterling, staying near yesterday's 6-week high of 1.6158. Earlier in August, the dollar hit a 10-month low of 1.7012.
UK house prices rose at the fastest pace in more than two and a half years as exceptionally low interest rates prevented a repetition of sharp falls witnessed in 2008, a closely watched report showed Thursday.
The dollar also held its ground versus the loonie, hovering just below C$1.1000.
Meanwhile, the dollar drifted very slightly lower versus the yen to touch a new monthly low of 93.36 before leveling out.
The dollar rose versus mot majors yesterday after new home sales increased by much more than expected in the month of July, according to a report released by the Commerce Department.
The report showed that new home sales surged up by 9.6 percent to an annual rate of 433,000 in July from the revised June rate of 395,000. With the increase, new home sales rose to their highest level since September of 2008.
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