Apr. 17: American session
Tatiana Norkina, analyst at FBS
U.S. dollar index has weakened somewhat today after yesterday's "dovish" comments by J. Yellen who acknowledged the labor market weakness and the low level of inflation in the country. The index was supported, to a certain extent, by today's data on unemployment benefits, the number of which for the past week turned out to be slightly lower than expected - 304 thousand (against the forecasted 315 thousand of applications). At the moment, the American is losing about 0.16%. Major U.S. stock indexes are moving in different directions: S&P500 has gained 0.25% so far, while DJIA is in the red zone, losing about 0.05%.
At the same time, the EUR/USD currency pair has slipped to the 1.3830 support, after reaching highs of the day in the 1.3865 area. The GBP/USD pair has returned to the 1.6800 figure where it is consolidating at the moment.
USD/CHF is trading within the 0.8780-0.8820 range for the third day in a row and is approaching its upper limit now. In the meantime, USD/JPY seems to have managed to keep above the 102.00 figure and the bulls are willing to resume the recovery.