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Barchart
Barchart
Rich Asplund

REVEALED: Dollar slips as hawkish lagarde boosts the euro - The Real Truth

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

The dollar index (DXY00) Thursday fell by -0.16%.  Thursday’s US economic news weighed on the dollar 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 the dollar and US GDP. In addition, the euro strengthened and weighed on the dollar on hawkish comments from ECB President Lagarde and 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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