The euro fell sharply after this announcement. By the end of trading in New York, the euro fell to $1.0636 from $1.0732 in the previous session, and the pound sterling fell to $1.2402 from $1.2486.
In the week ending September 9, applications for unemployment benefits increased by 3,000 to 220,000 in the United States, the US Bureau of Labor Statistics reported Thursday (9/14/2023). BLS). The four-week rolling average of claims fell by 5,000 to 224,500 over the past week, the lowest level since late February.
“Layoffs remain low and, as yet, there is no indication that businesses will cut large numbers of jobs in response to restrictive monetary policy aimed at weakening demand and economic activity,” said Rubeela Farooqi , chief U.S. economist for High Frequency Economics.
Aside from U.S. economic data, the Federal Reserve’s outlook remains largely intact. Expectations that the US central bank will likely keep interest rates steady at its September 19-20 policy meeting are at 97%, according to the CME’s FedWatch tool released Thursday (9/14/2023).
At the end of trading in New York, the US dollar bought 147.4410 Japanese yen, lower than the previous session’s 147.45 Japanese yen. The US dollar rose to 0.8962 Swiss francs from 0.8934 Swiss francs and fell to 1.3509 Canadian dollars from 1.3564 Canadian dollars. The US dollar strengthened to 11.2022 Swedish crowns from 11.1379 Swedish crowns.
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