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Barchart
Rich Asplund

FOUND: Dollar finds support on higher t note yields - You Need To See This

ECB BOJ United States US Federal Reserve LAGARDE Deficit GDP Inflation Interest Rates Ueda

The dollar index (DXY00) today is trading slightly higher on a rise in T-note yields.  Gains in the dollar are limited after weekly US jobless claims rose more than expected, a dovish factor for Fed policy.  Also, the US Apr trade deficit widened by the most in 1-1/2 years, a negative factor for GDP. In addition, the euro strengthened and weighed on the dollar after the ECB raised its 2024 Eurozone GDP and inflation forecasts. 

US weekly initial unemployment claims rose +8,000 to 229,000, showing a weaker labor market than expectations of 220,000.

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