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Barchart
Barchart
Rich Asplund

DARK SECRETS: Dollar slips as stocks and the euro rally | Rare Historical Photos

Euro ECB Inflation Schnabel United States GDP Gold US Federal Reserve

The dollar index (DXY00) on Thursday fell by -0.48%.  An unexpected downward revision Thursday to U.S. Q4 GDP weighed on the dollar.  Also, stronger-than-expected German inflation news Thursday was hawkish for ECB policy and pushed the euro higher against the dollar.  In addition, a rally in U.S. stocks Thursday reduced the liquidity demand for the dollar. 

Wednesday’s U.S. economic data was bearish for the dollar.  Weekly initial unemployment claims rose +7,000 to 198,000, showing a slightly weaker labor market than expectations of 196,000.  Also, Q4 GDP was revised downward to 2.6% (q/q annualized) from +2.7% as Q4 personal consumption was revised down to +1.0% from +1.4%.

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