Dollar Slips as GDP Revision Down & Claims Rise
The US dollar continued its slight decline on Thursday (April 9) after US data signaled softening activity and a slight cooling in the labor market. Fourth-quarter GDP growth was revised down to 0.5% from 0.7%, while initial jobless claims rose by 16,000 to 219,000, above the 210,000 forecast. On the inflation front, core PCE in February eased to 3.0% (YoY) from 3.1% in January—in line with expectations and not yet reflecting the post-Iran war energy boom. Following the data release, the dollar index (DXY) fell to 98.843 from around 98.957 previously, confirming that the market is beginning to reconsider its "higher for longer" outlook, although energy inflation pressures remain the next risk variable.
Source: Newsmaker.id