The dollar index (DXY00) on Thursday rose by +0.16%. On Thursday, the dollar recovered from early losses and moved higher as hawkish comments from San Francisco Fed President Daly and Atlanta Fed President Bostic pushed back the chances of Fed rate cuts until later this year. The dollar initially moved lower Thursday after the Jan core PCE deflator rose at the slowest pace in 2-3/4 years, a dovish factor for Fed policy. Other U.S. economic reports Thursday were bearish for the dollar after the Jan MNI Chicago PMI unexpectedly contracted by the most in seven months, and after Jan pending home sales unexpectedly fell by the most in five months.
U.S. weekly initial unemployment claims rose +13,000 to 215,000, showing a weaker labor market than expectations of 210,000.
