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With markets shut in Japan and the United States for the Thanksgiving holiday, currencies barely moved and cash U.S. Treasuries weren't traded in Asia. By 0530 GMT, however, the euro was 0.15% higher at $1.0902 and the dollar index was a tad weaker at 103.71. Adding to investors' confusion, data showed orders for long-lasting U.S. manufactured goods fell more than expected in October, signalling an economy cooling considerably after hot third-quarter growth. The dollar's rebound comes after a three-week long spell of weakness driven by evidence of a slowing economy and disinflation, leading markets to price out any additional Fed rate hikes. The forward-looking flash November purchasing manager indexes (PMIs) are also due out globally on Thursday and should help investors assess recession risks and how quickly rate cuts will begin.
Persons: Marcos Brindicci, Treasuries weren't, Jeff Ng, Treasuries, policymaker Mario Centeno, Joachim Nagel, Sterling, Jeremy Hunt, Changpeng Zhao, Vidya Ranganathan, Lincoln Organizations: REUTERS, Rights, U.S, Federal, University of Michigan, Sumitomo Mitsui Banking Corporation, Fed, Bank of Japan, European Central Bank, Governing, PMI, Thomson Locations: Buenos Aires, Argentina, Rights SINGAPORE, Japan, United States, Asia, Britain, U.S
Holiday thins trading after data nudges dollar higher
  + stars: | 2023-11-23 | by ( ) www.cnbc.com   time to read: +4 min
With markets shut in Japan and the United States for the Thanksgiving holiday, currencies barely moved and cash U.S. Treasuries weren't traded in Asia. The dollar index rose overnight, bouncing from a 2-1/2 month low, after economic data showed the number of Americans filing new claims for unemployment benefits fell more than expected last week. The weakness in the dollar has buoyed the yen , along with expectations the Bank of Japan may shift away from its ultra-loose monetary policy next year. The dollar index was just 0.03% lower at 103.84, with the euro unchanged at $1.0887. The forward-looking flash November purchasing manager indexes, or PMIs, are also due out globally on Thursday and should help investors assess recession risks and how quickly rate cuts will begin.
Persons: Treasuries weren't, Jeff Ng, Treasuries, policymaker Mario Centeno, Joachim Nagel, Sterling, Jeremy Hunt, Changpeng Zhao Organizations: U.S ., Federal Reserve, University of Michigan, Sumitomo Mitsui Banking Corporation, Fed, Bank of Japan, European Central Bank, Governing, PMI Locations: Japan, United States, Asia, Britain, U.S
Total: 2