The dollar extended its slide versus the euro for the fourth consecutive day during the current trading session as US poor economic data suggested that the Federal Reserve is not going to tighten its monetary policy aggressively. Macroeconomic indicators released from the eurozone on Thursday were not good as well, but it looks like the greenback is more vulnerable to a negative monetary policy outlook right now.
Initial jobless claims were at 278k (seasonally adjusted) last week, a bit below the predicted rate of 280k. That is compared to the previous week’s rate of 294k. (Event A on the chart.)
Durable goods orders were far below expectations, sinking 5.1% in December whereas economists predicted a much smaller drop by just 0.6%. What is more, the November’s reading was revised from zero change to -0.5%. (Event A on the chart.)
Pending home sales were almost unchanged in December, inching up by just 0.1% — nowhere near the 1.0% gain promised by analysts. The previous month’s revised reading showed decline by 1.1%. (Event B on the chart.)
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