The dollar is losing ground against its major rivals Thursday afternoon. A large number of U.S. economic reports hit the wires this morning, the results of which proved mixed.
First-time claims for U.S. unemployment benefits rose in line with economist estimates in the week ended February 10th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 230,000, an increase of 7,000 from the previous week's revised level of 223,000.
Economists had expected jobless claims to rise to 230,000 from the 221,000 originally reported for the previous week.
Following the release of a report on consumer price inflation on Wednesday, the Labor Department released a report on Thursday showing producer prices in the U.S. rose in line with economist estimates in the month of January.
The Labor Department said its producer price index for final demand climbed by 0.4 percent in January after coming in unchanged in December.
Manufacturing activity in New York grew at a somewhat slower rate in the month of February, according to a report released by the Federal Reserve Bank of New York on Thursday.
The New York Fed said its general business conditions index fell to 13.1 in February from 17.7 in January, although a positive reading still indicates growth. Economists had expected the index to edge down to 17.5.
A report released by the Federal Reserve Bank of Philadelphia on Thursday unexpectedly showed a faster rate of growth in regional manufacturing activity in the month of February. The Philly Fed said its index for current manufacturing activity climbed to 25.8 in February from 22.2 in January, with a positive reading indicating growth. Economists had expected the index to drop to 21.1.
Partly reflecting a decrease in mining output, the Federal Reserve released a report on Thursday unexpectedly showing a slight drop in U.S. industrial production in the month of January. The Fed said industrial production dipped by 0.1 percent after climbing by a downwardly revised 0.4 percent in December.
Economists had expected production to rise by 0.2 percent compared to the 0.9 percent increase originally reported for the previous month.
Homebuilder confidence in the U.S. remained at a healthy level in the month of February, according to a report released by the National Association of Home Builders on Thursday. The report said the NAHB/Wells Fargo Housing Market Index came in at 72 in February, unchanged from January and in line with economist estimates.
The dollar has slipped to around $1.2495 against the Euro Thursday afternoon, from an early high of $1.2447.
The euro area trade surplus increased in December from the previous month on higher exports, Eurostat reported Thursday. The trade surplus rose to a seasonally adjusted EUR 23.8 billion in December from EUR 22 billion in the previous month. The expected level was EUR 22.3 billion.
France's unemployment rate declined in the fourth quarter to the lowest level since early 2009, the statistical office Insee said Thursday. The ILO jobless rate in metropolitan France and the overseas departments came in at 8.9 percent of the labor force, the lowest since early 2009. The rate decreased by 0.7 percentage points sequentially.
The buck has dropped to around $1.4080 against the pound sterling this afternoon, from an early high of $1.3998.
The greenback has fallen to a 3-month low of Y106.390 against the Japanese Yen Thursday afternoon, from an early high of Y106.889.
The value of core machine orders in Japan plunged a seasonally adjusted 11.9 percent on month in December, the Cabinet Office said on Thursday, coming in at 792.6 billion yen. The headline figure was well shy of forecasts for a decline of 2.0 percent following the 5.7 percent gain in November.
Japan's industrial production grew more than initially estimated in December, latest figures from the Ministry of Economy, Trade and Industry showed Thursday. Industrial production advanced a seasonally adjusted 2.9 percent month-over-month in December, faster than the 2.7 percent rise reported earlier.