RTTNews - The dollar was mixed versus other majors on Thursday as US stocks snapped back from losses in the previous session. The buck leveled off versus the the euro and sterling, but spiked higher against the yen.
Relatively encouraging economic reports and some decent corporate earnings news from around the globe fueled renewed risk appetite and helped global equities rally.
The buck jumped to a nearly 4-week high of 95.82 versus yen, moving well away from a 5-month low of 91.87 set earlier in July.
The dollar held its ground near 1.4050 versus the higher yielding euro despite increased risk appetite. Earlier in the week, the dollar tested its 2009 lows near 1.4340, but has since found support.
The buck once again failed to sustain a move to the upside versus the sterling, slipping to 1.6500. The pair has been stick in a stubborn range near that mark for most of the past two months.
Against the red-hot loonie, the dollar slipped back to C$1.0820, edging closer to a 10-month low of C$1.0749, set earlier this week.
While the Labor Department released a report on Thursday showing that first-time claims for unemployment benefits in the week ended July 25th came in above the average analyst estimate, there were some concerns that jobless claims could have come in substantially higher.
The report showed that jobless claims rose to 584,000 from the previous week's revised figure of 559,000. Economists had expected jobless claims to rise to 575,000 from the 554,000 originally reported for the previous week.
Elsewhere, Japanese manufacturers saw industrial production gain 2.4% in June after a 5.7% May advance.
Eurozone economic sentiment improved for the fourth consecutive month in July pointing towards a possibility of positive growth in the economy during the second half of 2009, a monthly survey published by the European Commission showed Thursday.
Canadian industrial product and raw materials prices rose more than forecast in June, according to data released Thursday by Statistics Canada.
In June, the Industrial Product Index (IPPI) rose 0.7% compared with May, while the Raw Materials Price Index (RMPI) increased 6.2%. Both gains were due to a strong increase in petroleum prices.
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