The dollar firmed against most major currencies on Thursday after a key Federal Reserve official warned that rate hikes may come sooner than markets have been expecting.Solid U.S. jobless claims numbers supported the greenback as well.
In U.S. trading on Thursday, EUR/USD was down 0.23% at 1.2750.The U.S. Labor Department reported earlier that the number of individuals filing for initial jobless benefits in the week ending Sept. 20 rose by 12,000 to 293,000, up from the previous week's revised total of 281,000.
Analysts had expected jobless claims to rise by 19,000 to 300,000 last week, and the better-than-expected number drew applause for the greenback.Separately, official data showed that U.S. durable goods orders dropped by 18.2% in August, after an increase of 22.5% in July, whose figure was revised down from a previously estimated gain of 22.6%.
Analysts had expected durable goods orders to decline by 18.0% last month, and the figure was close enough to expectations to give the dollar room to firm.Core durable goods orders, which are stripped of volatile transportation items, rose 0.7% last month, in line with expectations, after falling 0.5% in July, whose figure was revised from a previously estimated 0.7% drop.
The dollar saw added support after Dallas Federal Reserve President Richard Fisher said the U.S. central bank may start raising benchmark interest rates around the spring of 2015, earlier than many market expectations.
While the Fed has suggested its bond-buying program could close in October, uncertainty as to when rate hikes may begin in 2015 have concerned investors.The euro, meanwhile, came under pressure after European Central Bank President Mario Draghi reiterated on Thursday the bank's commitment to act with more policy measures to boost inflation in the euro zone.
http://www.investing.com/news/forex-news/dollar-gains-on-hawkish-fed-comments,-solid-u.s.-data-310826
In U.S. trading on Thursday, EUR/USD was down 0.23% at 1.2750.The U.S. Labor Department reported earlier that the number of individuals filing for initial jobless benefits in the week ending Sept. 20 rose by 12,000 to 293,000, up from the previous week's revised total of 281,000.
Analysts had expected jobless claims to rise by 19,000 to 300,000 last week, and the better-than-expected number drew applause for the greenback.Separately, official data showed that U.S. durable goods orders dropped by 18.2% in August, after an increase of 22.5% in July, whose figure was revised down from a previously estimated gain of 22.6%.
Analysts had expected durable goods orders to decline by 18.0% last month, and the figure was close enough to expectations to give the dollar room to firm.Core durable goods orders, which are stripped of volatile transportation items, rose 0.7% last month, in line with expectations, after falling 0.5% in July, whose figure was revised from a previously estimated 0.7% drop.
The dollar saw added support after Dallas Federal Reserve President Richard Fisher said the U.S. central bank may start raising benchmark interest rates around the spring of 2015, earlier than many market expectations.
While the Fed has suggested its bond-buying program could close in October, uncertainty as to when rate hikes may begin in 2015 have concerned investors.The euro, meanwhile, came under pressure after European Central Bank President Mario Draghi reiterated on Thursday the bank's commitment to act with more policy measures to boost inflation in the euro zone.
http://www.investing.com/news/forex-news/dollar-gains-on-hawkish-fed-comments,-solid-u.s.-data-310826